A strong market rally sure appeals to all, however such a rally can only be sustained via pullback/sideways actions in timely manner. Will this rally keep going or will earnings season halt this advance!!! BPNYA is way above EMA(30) and Volatility ($VIX) at low levels supports current market rally. Daily NYSE chart does suggest that market is at MA(200) resistance, also PPO is showing signs of divergence along MACD appears to be rolling over. Weekly chart does show that market is in resistance zone, however RSI has managed to break down trend line and stay above 50 mark. NYUD is above EMA(21) & EMA(42) along with RSI above 50 mark supporting current market rally. Market is prone to a pullback or sideways action and earnings season might provide the fuel.
What does it mean for our Investments?
Market bounce appears to be stalling... Comments are closed.
|
Details
What is NYUD?
What is BPNYA?Archives
January 2020
Categories
All
|