Market heading for correction

Too much of froth. Many gap ups. This market needs a serious scary correction. I am actively watching for signs of market hitting an air pocket.

Two weeks ago no one wanted to listen to possible bullish scenario. Now everyone is talking of Goldilocks. The obvious low risk bounce from bottom for many sectors and stocks trade which worked so well for couple of weeks is over.

Notice how the bearish commentators for past week have been scratching their head as if they had bad bout of dandruff. Some even talked of deflation (Grandma talked about it weeks ago). No more 20 posts in day scaring you about impending collapse, crash in housing, inflation, oil to 100 USD and so on.

It is time for rest and retreat for market.

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