#SA_Notes for 11-11-2022
- Market condition constant. Bull swing in bear market.
- Much anticipated pullback of 2 days brings back the participation (volume) to the normal level.
On 9th Nov, we hit 30%+ on Above Avg. Volume (refer column J on Breadth sheet in #MBMV2_0) (1/n)

In past 2 years, we reached this peak only 6 times -
a) 11-05-2021
b) 04-01-2022 (slightly below 30%)
c) 24-02-2022 (due to war)
d) 29-03-2022
e) 01-08-2022
f) 09-11-2022
If we exclude the volume on 24-02-2022, which came due to war, every time it reflected a peak in the (2/n)

bull swing. Bull swing will keep on going for next few days for sure as it happened after every such peak, but it does suggest that the market almost reached its prime in this bull swing.
Hence, expecting a recovery in market but stay alert about worsening success ratio in (3/n)

breakouts. As the market will extent further, situation will start deteriorating.
- US posted an abnormally powerful bullish day yesterday which is indeed a good sign for Indian markets as well, which too needs some supportive action to recover from the shakeout yesterday. (4/n)

Important thing to notice will be, how much opening gains we will be able to retain by day end. It will further reveal the nature of the market.
Any gap up sell off / market closing off highs, around the lows will be considered as an ominous sign. (5/5)