Market is on the brink of breakout, Will it happen in next few days!!! Couple of items to watch out for... BPNYA is well above EMA(30) while Volatility ($VIX) is at low levels providing the upward push to the market. Below chart does show that market is almost breaking out but watch out for volume which appears to be declining. On weekly chart below, it is very clear that market needs a final push to breakout to NEW HIGH definitively. Also, RSI had broken the downtrend line and back above 50 mark suggesting possible breakout soon. NYUD has already made a NEW HIGH and RSI has already broken the downtrend along with remaining above 50 mark. Both suggesting possible higher target for the market. Considering Greece received an extension, an immediate crisis is averted for now. This will enable the market to make NEW HIGHs unless any other Global crisis erupts.
What does it mean for our Investments?
Stage is set for market to extend its BULL run... Comments are closed.
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