Waiting for leadership

This bounce is only for extremely nimble and short term traders. Day to day action is choppy and news driven.
Breakouts are happening on gaps and are prone to next day reversal. Several examples of that you will find from Episodic Pivots (EP) breakouts in last two days.
When market dipped in July- August period, leading stocks were not badly damaged and hence when the market rebounded they could rally. Many sectors like Solar, Shipping, Fertilizers, Agricultural Machinery etc had mild corrections during that phase and they bounced back vigorously post correction. As against that currently most of the leading stocks are down more than 25% from recent high. Many have reversed their trends and are unlikely to revisit their old high.
So till new leadership emerges bounces will be for mostly day trades and extremely short term trades. It will take time for the leadership sectors and stocks to set up.

Best site to learn to trade

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