How long will the rally last

There was not much of follow through breakouts on second day of the rally.
One of the most troubling aspect of this market has been lack of new leadership sectors.
The top 10 sector list is full of sectors which are old leaders of rally.
Counter trend sector rallies like that in housing are not going to have sustainable leadership and will son run in to trouble.
Under such circumstances you have to look for just 5 to 10%moves on breakouts. Many moves are giving back part of the profit intraday, so if you have 5-10% profit, you better lock it in.
It is difficult to build bigger positions or to hold positions for larger profit potential.
As the earnings season progresses the picture might change, but currently it is still too early to tell how much leg the rally has.

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