Due to earnings season underway, Market is experiencing zig zag action. Euro-zone issues are still NOT resolved while another issue "US Fiscal Cliff" is on the horizon. In addition to this, BRIC countries economic growth is subsiding there by suggesting global slowdown. All this news is not market friendly and could cause a very nasty decline similar to what we saw in 2011 August. But for now trend remains in uptrend, have patience and wait for signal. BPNYA chart below suggests that the uptrend is continued for now. BPNYA is well above its EMA(30) but it can change anytime considering global economic issues. Below NYSE chart tells us that it s trapped between resistance at 7900 level and MA(200). If the resistance is broken to upside then this market has more room to run upside but if it breaks the MA(200) support then it might get trapped between MA(200) and MA(50). Only time will tell... What does this mean for our investments?
401K Investments: If you are already invested then stay put until we get SELL signal but if you did not invest then this may not be right time to get in as you may not get enough time to get out due to 30 days restriction. IRA Investments: Stay invested in BULL ETFs but make sure you have STOP LOSS LIMIT in place to limit any downside exposure. If you are investing in Stocks then make sure you look at earnings date and invest accordingly. Be alert and cautious... Comments are closed.
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