Will it breach to the upside? I believe so, and in so doing will suck in more capital into the equity markets.
I think there won't be as many sellers looking to sell first fearing a sharp pullout from current levels (anticipatory) compared to sellers waiting to know if those DMA levels can be breached (hold your fire)...but in contrast I think there would be more buyers waiting to plough in once those DMA levels are breached (the dam is broken!) ...the sellers are waiting but the buyers will likely be led by funds front ending the process.
The converse is happening locally as market participants are anticipating the reverse of the above.
We are followers, LOL, have been and will always be.
To me, this feels different to past bear market rallies. And this comes from a fairly bearish person.
