The bounce from a minor correction was relentless. But in one day most of the gains on small caps were wiped out.
Will there be another attempt at bounce. Repeated failure to make convincing high on small caps is sign of weakness.
Large caps still in good condition as of now. We continue to have the divergence on large cap and small cap.
What we have learned in this market is selling attracts V shaped recoveries on low volume. Which is lading to range.
Will it be different this time?
Furious sector rotation is another underlying theme in this market where money quickly rotates between sectors. But longer term trends on sector are few.
As of now unless we see another bout of 300 plus down day the range is more likely scene.