Market has made significant gains in last two weeks and currently digesting the move so far. Earnings season is still three weeks out. However tensions in middle east are rising. Our current reading suggest to be alert, WHY? What is BPNYA Index suggesting?
Consolidation clearly visible in below NYSE daily chart, we might see a final push higher before volatility rises. From weekly chart we can derive that the dotted trend line was broken with high volume and now market may pullback to test the support of the dotted trend line. As long as market hold above the dotted line, it will remain in bullish mode, the moment it drops below the trend line then this move will become BULL trap. What about our investments?
Time to be alert... Comments are closed.
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