Market maintained its steady climb for past couple of weeks. Bullish sentiment are very high as many people feel they missed the rally and WILL BE scrambling to get in. Now that earnings season is almost over, market will rely on global news and economic conditions for further direction. What to expect in near future??? As expected, last week BPNYA crossed 70 level. Historically, every time BPNYA is above 70, market did not manage to climb more than 3-4%. So what should we really expect in near future!!! Possibilities -
Since market has been climbing for few weeks now, it is normal for the markets to undergo a pullback. A typical "normal" pullback can be anywhere from 4% to 10%. But the pullback can also become a deeper correction depending on global economic conditions. Remember in markets, nothing is guaranteed. Market likes to disappoint the most people. It is better to be alert and cognizant of overall market conditions, be prepared for a market pullback and have a plan...
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