After initial hiccup earlier this year, market has managed to come back with vengeance. BUT can it continue to keep climbing and will this momentum sustain!!! What shall we expect and be aware about!!! BPNYA is back above 70 mark, hence opening new positions in long term accounts might prove to be costlier here. However, Volatility ($VIX) remains low which is driving this market higher but lets NOT forget this can change in no time. As can be seen in below chart, market is hitting against earlier trend line and might pullback or go sideways. On weekly chart, the divergence keeps growing which is concerning for now. Based on below chart, it is very clear that volume is supporting this price action in the market which is good for the overall market. It seems like we are not in immediate danger of a severe market crash, however we cannot rule out a pullback or sideways action in near term. Also lets NOT forget Global political stand-off in Ukraine which can quickly become major issue driving volatility higher.
What does it mean for our Investments?
Market continue to be bullish for now... Comments are closed.
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