- provided by lower end of the trend channel
- previous resistance at 8200 area, now turned into support
- also MA(50) may act as support
- Earnings season has already started last week and many companies will report during next week. So far, earnings have been good but after a major market move, market remains in digestive mood by staying in a range
- Election season is in full swing and most likely we might see market grinding up but with lot of wide swings
- Euro-zone concerns have taken a back seat FOR NOW
- BPNYA will trigger SELL signal if market continues the decline
Remember, these are just possibilities and market is free to act on its own BUT being cognizant of our surrounding always helps.
What does it mean for our Investments?
401K: Stay invested until we see a SELL trigger, however initiating new posiitons could be risky
Stocks/ETFs: Invest in good patterns and DO NOT forget STOP LIMIT
Stay focused and be alert...