Market snapped back from oversold condition, BUT how far will this go!!! Euro-zone crisis is not resolved, the only thing that changed was delay in S&P ratings agency review and downgrades which were to be announced last week. Most likely we will hear from them in January. Although, it may seem like market is in rally mode but be cautious as this is festive season and volumes are lower than normal.... BPNYA Index is giving us BUY signal. Prior to this week, we got SELL signal. Many of us will have following questions:
Things to remember:
So shall we consider this BUY signal!!! We are bit skeptical about this entry since it is very deceptive. Market is rallying but volume is not supporting, besides this is festive season, original crisis have not been resolved instead pushed to next year creating a fake year end rally which can turn anytime. The best choice would be invest may be 5-10% to taste water or simply hold the temptation and stay on sidelines for a while. Once the picture is clear, we will always get opportunities to get back in the game. Stay alert and be cautious.... Comments are closed.
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