Short term picture is murky

Short term picture is murky with no follow through on breakout in index. As I said earlier the key will be follow through. Instead we saw participants using the strength to lighten up. Breakouts on individual stocks are also having tough time following through.

There is quarter end in next few days so one more rally attempt might be on card.

The longer term picture still looks good with many stocks forming orderly bases after first up leg. A correction of few weeks would be an ideal scenario.

Unless there is sustained selling the primary trend might reassert itself again.

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