If we get broad based and sustained selling then things can change

Short term picture indicates pullback . As of now there is no broad based selling. But indexes have stalled.

Good thing is wall of worry is building and the excessive bullishness is fast getting replaced by worries.

In the short run tactically defensive and will look at ETFs or other good setup.

Today morning I went through around 1200 stocks up most in last quarter and you still see signs of orderly pullback and no major breakdowns.

If we get broad based and sustained selling then things can change. As of now it still looks like a pullback after a first bull leg.

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