Failed bounce is not a good sign

The dip buying was just one day phenomenon and we are witnessing bounce failure and intra day reversal today. Typically selling is clustered and this action indicates trouble for market in near terms.

The selling and profit taking is happening after a strong multi week move, the move hardly had a correction. Now stocks are finding it difficult to get a move going after breakouts and this weakness might be good if it lasts for few weeks.

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