Two Possible Scenarios
Market had a sharp bounce in last 24 days. As a result the MM is in confirmed bullish mode.
The number of breakouts continue to expand. in last 2 -3 days some stocks near 52 week high have started to breakout.
Possible scenarios:
1 market goes sideways for sometime before breaking higher
2 market bounce fails.
As of now the day to day action is lead by Europe news. If there is resolution to that problem the first scenario is more likely.
Source:
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