ONLY two days of the week can make such a BIG impact on the market, all gains within past month are wiped out. However, it should not be a surprise to our readers as we cautioned. Is this start of change in market trend? Finally, BPNYA is below 70 mark but will it continue to slide remains to be seen. However, volatility index ($VIX) rose drastically which resulted into market decline, expect more volatility ahead. For now, market broke the dotted line rising wedge channel along with MA(50) and next support appears to be near 9900 area. Even subtle divergences tell a lot of story ahead of time, Isn't it!!! Based on below chart, more downside might be ahead of us. Based on below chart, market has some room to go down further, as long as NYUD remains above EMA(21) we can consider that trend remains intact and this is just another pullback or mini correction. But that does not mean this pullback cannot become a solid correction. Remember, earnings season is still in progress which in turn means market shall experience wide volatility swings.
What does this mean for our Investments?
Market experiencing pullback, be alert... Comments are closed.
|
Details
What is NYUD?
What is BPNYA?Archives
January 2020
Categories
All
|