The non sustainability in intra day Microcap gains reflects and denotes market wariness and nervousness over near term market direction despite very positive close on Wall St.
This lack of sustainability makes trade increasingly difficult to execute without risk of buying in opening highs. Easy money may have now passed us.
What the market needs is a demonstration that it can flush out some of the near term excesses since Jan at least and yet prove that it can hold its own without crumbling further..that can set the stage for a market renewal to push higher from there. What you have now is an eager beaver market that has recently caught a bout of flu but already wanting to rejoin the party before getting enough rest to consolidate and rest , giving rise to prospect of a relapse and perhaps something even worst.
I am more than 70pc confident that the 2nd half of 2021 will see global indices below where we are. In other words, we may have just 3-4 months to play in whatever remaining exuberance retained in the short term. We could see a final push to another all time high between now and then but that rise may not be enjoyed broadly across all stocks.
