Market Monitor

Market Monitor: Bearish

Selling pressure was intense after the morning bounce failed
Recent leaders are under pressure and one by one they are breaking down
New sector leadership is emerging. It is mostly defensive sectors
More selling will lead to washout and attempt at another bounce.
Reflex bounce is very strong probability
Currently in reversal anticipation mode. Looking for follow through day or MM signal

Sector Focus:

Medical
Energy

The selling will probably stop before earnings season and if bearish phase has to follow on, it will happen post earnings.

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