Last Friday after market close, S&P ratings agency released its outlook/ratings for various European countries. Looks like 9 countries have been downgraded. Some of this action was already expected and hence priced in the market but this week will tell us how much of this news is a surprise! Also lets not forget that earnings season is underway. Both these events will tend to cause wild market swings.... BEWARE! As shown in below chart, BPNYA Index is above EMA(30), so for now stay alert and be disciplined. Considering we are in middle of earnings season and Euro-zone news, we may get wild market swings. If you have been following this site for a while then by now you know following:
Hopefully this will enrich your knowledge of investment. Feel free to provide your feedback on the information provided here. Comments are closed.
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