In last two weeks, market has managed to climb back near OLD HIGHs and has been consolidating for few days. Now that Syrian War is NOT likely to happen, Where are our markets headed and what shall we expect!!! BPNYA is back above 70 mark and shall soon be crossing EMA(30) but no signal will be generated as it is above 70 mark. Something we should notice here is that from early June 2013 market is having real hard time to continue BULL trend and overtime has become very volatile. Volatility($VIX) for now appears to be subsiding which in turn is pushing market higher. Daily chart below clearly shows that market is challenging OLD HIGHs, however it has resistance overhead (shown by dotted line) and needs strong push to breakout on upside. On weekly chart, we still continue to see divergence between MACD and Price. However upside breakout cannot be ruled out and is possible. Thing to watch out for:
What does it mean for our investments?
Market back at OLD HIGHs, however be cautious... Comments are closed.
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