Market did manage to maintain its uptrend so far. Earnings season was the catalyst as well as Euro-zone worries were discounted. Now that market is in extended territory, a pullback is due. However, market can remain in extended territory for weeks before a meaningful pullback happens. So then how do we know when to get out!!!
Last week, we got some good news regarding local US economy. Hiring is picking up, unemployment rate dropped to 8.5% and manufacturing production is going up. But apart from 1st trading day of the year and in-spite of good news, market could not push higher, these are signs of tiresome rally. Although, we have good news on US side, let's now forget that Euro-zone issues are not resolved and Asian markets are not doing well due to slow down in their economies. 2012 might be another year like 2008 when we shall see a roller coaster ride.....
What is NYUD?
What is BPNYA?