Risk is rising higher and higher, owing to mid term elections and Quantitative Easing (QE) resulting in breakouts across the board. Even the late coming financials have broken the pattern and now pulling back to retrace some gains. The overall outlook is bullish – however, in the short-term, the market is aggressively overbought and a setback albeit milder one is on cards.

Desihedge November 2010

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