Distribution is clearly visible on the Nasdaq Composite Index. We had 7 negative days in last 12 days.
Many of the momentum leaders are now in correction mode. Series of Chinese stocks had high volume correction after a multi month rally. The drug and biotech stocks are another set pf stocks that had big down day on Friday.
But this market has repeatedly bounced back from such setbacks for last 18 months. Will that continue, we will find out soon.
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