It was a short week due to 4th of July holiday and Market continued to inch higher before Fridays jobs report crashed the party. However, earnings season shall start from next week and market should find support soon. Most likely earnings should drive the market higher for next couple of weeks. But DO NOT forget that Euro-zone crisis is far from resolution hence it will be wise to assume that this BULL move may not last for months unless we see concrete actions from Euro officials. For now enjoy the party till it lasts... BPNYA chart shows that we got BUY signal and market has been moving higher since, except last Friday which can be considered as pullback for now. See how market continues to move higher as soon as volatility decreases. As expected, below NYSE chart clearly shows 7900 area acted as resistance, market may find support at MA(50) & MA(200) and bounce back. Due to earnings season ahead, expect lot of volatility and wide swings. What does this mean for us?
401K Investments: Invest in TOP 3 ranked fund IRA Investments: Invest in TOP 3 ranked ETFs with right setups, avoid European country ETFs or any ETF having exposure to Europe. Remember, Euro-zone issues are not resolved and things might get ugly if no concrete actions are taken. However stick to a plan and do not get emotional about investments. Our system shall be used as a guidance tool to make appropriate decision and NOT HOLY GRAIL. Success can be achieved with discipline and adequate risk management... Comments are closed.
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