Last week we saw that breaks were applied to this BULL rally. Now will this pullback prove to be a dip and buyers will step in OR will it convert into a choppy road ahead!!! As of now the most likely scenario would be choppy road ahead and eventually fall into a correction as the market appears to be over extended at this point. What shall we do with our long term investments? Not much has changed in below BPNYA chart, as BPNYA continues to remain well above 70 mark. It might take sometime before we see BPNYA crossover EMA(30) and trigger SELL signal. However, keep an eye on Volatility as it can rise very quickly. Pullback on NYSE daily chart is clearly visible. We expect another attempt or rather several attempts to continue the rally there by causing lot of zig-zag action with wide swings. Based on weekly NYSE chart, we might see a meaningful pullback in coming weeks as market appears to be over extended. What does this mean for our Investments?
Market continues to remain bullish but be cautious... Comments are closed.
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