Market managed to bounce back after a brief pullback due to outcome of Presidential debate as well as good jobs report. Is this start of a new rally or the last leg up before a significant pullback!!! Below BPNYA chart is self explanatory, key things to watch out for:
NYSE bounce from support area after a brief pullback is clearly visible in below daily chart. First target would be 8500 area followed by next target at 8600 area (not seen in below chart). Breakout of the dotted resistance trend line on weekly chart followed by a pullback and currently in consolidation. Market remains in bullish mode however we should be aware of few things:
What does it mean for our Investments? 401K: Stay invested but DO NOT initiate any new positions, watch for signs of trouble along with any signals Stocks/ETFs: Invest in good patterns but have tight STOP LIMIT in place. Stay focused and be alert... Comments are closed.
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