The reflex bounce continues

The market has had a 8 days of rally and out of that 6 days were 300 plus days.

This has resulted in the spread between the 65 days has narrowed considerably.
In last 2 days some stocks at or near 52 week high are beginning to breakout.
Till now overwhelmingly the stocks breaking out were oversold and heavily shorted stocks.
The lack of participation by good quality stocks in this rally is one negative.
Another negative is almost all the major leaders and leading sectors have put in top and showing signs of distribution.

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