Last week we saw market had another single day HUGE rally, why? Well, federal banks of 6 nations came together and decided to support and provide liquidity for Euro-zone. How should we read this news!!! Something must be drastically wrong! or may be a BIG European bank was on the brinks of collapse... which made things so critical that federal banks of several nations had to come to an immediate decision as temporary bandage. Market took this opportunity and rallied but is this a BULL trap or start of another REAL rally!!! NOTE: For entire month of December our weekly blog post will be concise and brief. What is our BPNYA Index showing us? We took early signal to get out of the market but as you can see, EMA(30) did not cross MA(50) downwards yet. Typically, we always take late SELL signal but considering market conditions we took early SELL signal. If you have read our strategy and entry/exit signals, you are probably aware of this. Remember, if this rally fails and EMA(30) crosses MA(50) then thats our late SELL signal to get out of market. Be careful as this rally seems to be a BULL TRAP and many traders/investors will get sucked into this...
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