Mild down day

After series of up days in a row market had a down day. But it was not a deal breaker. Bulls have been in control of this tape for sometime and they will not easily give up.

However many stocks are extended and in number of cases new high is resulting in mild reversals intraday or breakout failure. The stocks with momentum are holding up well as of now.

Finding non extended breakouts is a challenge . A sideways move or correction might help .