Last week has been the best market performance in last two months. Earlier market broke MA(200) signalling further bearish sign but recovered immediately and currently cruising towards MA(50) line. BUT, Is this move for real or mere trap!!!
From beginning of November 2012 after election results were out, market is in a steady decline. The uncertainty about Fiscal Cliff is causing the drag on the financial markets. As long as this uncertainty remains, market will continue to drop further. All eyes are on congress and everyone in wait n watch state.
But what is this Fiscal Cliff indeed and where is market headed!!!
Once the election results were out, market reacted to it. Immediately Fiscal Cliff came into spotlight and dead lock in congress is dragging market down further. What should we expect in next couple of weeks?
Market is having hard time to maintain its bullish trend from mid-September onward. Last Thursday, it seemed like market is trying to bounce hard but then came Friday and all gains of previous day were lost. In short, until we get clear outcome of US election, we may not get a clear market direction. What to expect in near term!!!!
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