Market broke out of consolidation as expected and moving higher. Soon we shall hit the resistance near 8200 as shown in below charts. For now the UP trend is intact and will remain so for probably another 2-3 weeks. What after that??? Below BPNYA chart is self explanatory and NO signal was generated last week. Consolidation & breakout clearly visible on NYSE daily chart, however volume remains low which is a concern. Next major resistance at 8200 level. The resistance at 8200 is also visible in this weekly NYSE chart shown by dotted trend line. In September, ECB shall be revealing its "plan & action" about Euro-zone debt containment which shall decide the next trend for the market. Also, US presidential elections debates will be at the forefront along with economic growth. We might see increased volatility and choppy action in the market.
What about Investments? 401K: Stay invested in TOP ranked funds until we see any signs of market trend change Stocks/ETFs: Stay invested in right patterns with appropriate STOP LIMIT Enjoy the party till it lasts.... Comments are closed.
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