After lot of struggle, market has managed to remain in breakout territory. However, volume appears to be missing and the breakout does not appear to be strong and convincing. What does it mean for us? BPNYA remains below EMA(30) while Volatility ($VIX) continues to be at lower levels. NYSE daily chart shows that market did manage to breakout but volume is low. On weekly NYSE chart, we can see that market barely broke out, RSI remains above 50 mark and MACD appears to have turned and trending higher giving benefit of doubt to BULLs. NYUD remains at NEW HIGH along with RSI above 50 mark giving benefit of doubt to BULLs. Charts continues to give benefit of doubt to BULLs but lets be alert.
What does it mean for our Investments?
Benefit of doubt goes to BULLs yet remain alert... Comments are closed.
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