Market seems to make several attempts to rally but after few days, the steam is lost and we are back to square 1. Euro-zone crisis is not easy to resolve and as every day passes, investors are loosing confidence. Hence we are seeing slow and contained selling. What does it mean for us!!! If you have been listening to news, S&P ratings agency was going to review several European nations ratings after the market close on last Friday. Many downgrades are expected which should drive the markets further lower, we will find out on Monday. Below BPNYA Index chart shows us that BPNYA has clearly crosses EMA(30) downwards in last week (early SELL signal). Now EMA(30) is almost close to crossing MA(50) downwards which triggers our late SELL signal. In short, it might be time to SELL and get back in cash or look for investing in bond funds or inverse ETFs. If you have been following this blog and read all things mentioned on this site, you are well aware of our strategy as there is NO MAGIC formula. Its simple strategy based on historical analysis abiding by certain rules.
Remember:
Comments are closed.
|
Details
What is NYUD?
What is BPNYA?Archives
January 2020
Categories
All
|