Overall breadth trends are in negative territory | stockbee

5/10/2012

Overall breadth trends are in negative territory



Buyers have stepped in 3 days in a row on weakness. Which makes a probability of a short term bounce here higher. But overall breadth trends are in negative territory.



Previous bounce attempts have not been confirmed by breadth. We need a bounce with huge 500 to 700 plus day for a meaningful rally. that kind of breadth will also need follow through breadth day.

Till then range bound action with bearish bias.

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