The market closed 0.71 points up at 3248.75. Yup prices have remained high. Analysts are saying that the market is overbought. Considering the rise in prices of the weights, the "heavier" weights have not advanced as much as the "lighter" ones.
If the market is going to remain bullish. Today's steady trend will signal the start of a new cycle. Otherwise, the market has peaked for now. One can be weary of a breakout at such a stage as there is a good chance that the breakout will signal a turnaround.
The thing I would watch now are the candlesticks. Yesterday looked like a shooting star while today seems like a doji. The market has kind of lost its sense of direction now. I would continue watching before taking any further action.
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