Today we saw strength
in the index which gained about 100 points. We saw an above average Bar with
above average volume closing on the upper side. The buying pressure dominated
the selling pressure. The overall Market also saw wide spread buying. The
advances overwhelmed the declines. The buy volume overwhelmed the sell volume.
So did the gains over the losses. The
EMA of the buy volume crossed above the average of the sell volume. The average
Advances crossed above the average of the declines almost after a month. The
Market and the Index move in unison today. Whether this strength will continue
or will we see some more sideways moves. We need to wait for the next couple of
sessions. The latter seems more probable. At least one thing seems to be
certain. The down side seems capped.
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