Despite the bullish signal in the market, no new leadership stocks have emerged. Until they do, the possibility remains that the market could reverse quickly at the current levels.
Thursday was clearly an accumulation day across the board. Nonetheless, caution is warranted since reversal candles formed in several market sectors yesterday.
The stock market indices had a spectacular session for most of the day. A very sharp, late sell-off pared back the gains, but, nevertheless, it was still a big day.
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