Market continues to grind higher every week, earnings season is winding down and guidance is not impressive, Fed continues to deliver market friendly news and anyone sitting on the sidelines (not invested in market) is getting extremely frustrated with the feeling of missed rally. Well lets not forget, debt debacle will be upon us in month of Sept and 10 year treasury yields are rising faster than Fed thought. What does this all mean for us? BPNYA stays well above 70 mark, however check volatility index ($VIX) in bottom section of the chart. Typically volatility cannot remain at these levels for long time and usually snaps back quickly which in turns adds to market volatility which we might get to see in coming weeks. Market is challenging OLD HIGHs and might break through to make NEW HIGH next week. BUT how long will the momentum sustain!!! Not much has changed on weekly NYSE chart below, divergence between MACD and NYSE is clearly visible. Current Facts:
What does it mean for our Investments?
Market appears to continue its uptrend BUT be cautious... Comments are closed.
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