Market is simply NOT ready to pullback and keeps moving higher each week. Every dip is being bought and risk of entering market at current levels keeps rising. What shall we do!!! BPNYA continues to remain above 70, volatility continues to remain lower and market continues to move higher. Daily NYSE chart shows how strong this market has been so far and NO signs of danger are visible. On weekly chart, we can still see divergence in play but any move higher might negate this scenario. In short, Market is relentlessly marching higher and is NOT showing any signs of slowdown or pullback. However, many underlying stocks which were leaders are breaking down significantly. Hence entering market without appropriate stock selection could be fatal. In general, market is NOT showing any signs of weakness but for any healthy rally, pullback is necessary. The higher the market goes from these levels, greater is the risk of major correction.
What does it mean for our Investments?
Market continue to display BULLish character... Comments are closed.
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