The bounce may not stick

After many months with no 8% plus correction , we finally had a multi week 8% correction in Nasdaq and small caps.

Individual momentum leaders have taken bigger hits. As you can see at one stage last week 215 stocks were down 25% in a month.

In last couple of days the market has attempted to bounce back on low breadth. That might be sign of in short run selling is over and market might attempt to form a range.

Because breadth was low the bounce may not stick.

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