Everyone on news, or in trading world, or in general is expecting a PULLBACK or SMALL Correction. Guess what! Market does not like to follow but rather ALWAYS likes to surprise. Its the element of surprise that defeats the enemy, Isn't it! So market continues to make new high, however it is doing so by creeping higher rather than roaring higher. All those who missed this rally which started in 3rd week of December 2011 are getting frustrated as each day market rises a little bit. The eagerness to get in the rally is HIGH and they are loosing patience. So, Are we concerned? Do we know what to do? Is this the best time to get in!!!... If you are following this site and blog then you should be able to answer above questions on your own without any help. Take few minutes to look at BPNYA current chart below and lets see if you can come up with answers regarding following questions:
Time to check your answers:
BPNYA is above 70 which means a high "probability" of pullback but that does not mean it will happen immediately. Typically market can remain in over extended territory for days/weeks/months but historically market has only managed to climb 3-4% once BPNYA is above 70 and crossed EMA(30). However BPNYA has yet to cross EMA(30) which is our SELL signal. Hence patience is absolutely necessary in such market conditions, getting in the market at the right time is the KEY to success. 401K: Be patient, if missed the rally and wait for sell signal if already invested. We hope it is becoming easier for you to understand market probability and direction, so that you can apply it with intelligent informed decisions...
Greg
2/26/2012 02:23:25 pm
Just wanted to say thanks again for the great web site. I look forward to your blog updates every week. Comments are closed.
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