Market appears to be recovering from the drop which occurred in mid June, however we are not out of the woods yet. Friday's job report was good and may provide much needed push to the market BUT earnings season is starting hence expect rise in volatility. Where are we headed and what to expect next!!! BPNYA is far from EMA(30) hence it will take some time before we get a BUY trigger as can be seen from below chart. Also notice bottom portion of the chart, as volatility ($VIX) rose market experienced wide swings followed by a pullback/correction. Below NYSE daily chart paints a better picture for short term. Market may be range bound for couple of weeks/months trapped between MA(50) and MA(200). Not much changed on weekly NYSE chart below, MACD has crossed red line suggesting further downside action. Lets look at current situation:
What does it mean for our Investments?
Market still in correction hence stay alert... Comments are closed.
|
Details
What is NYUD?
What is BPNYA?Archives
January 2020
Categories
All
|