Market appears to be taking two steps forward and one step backwards, yet remaining near recent HIGHs. However, DO NOT chase the market at current levels due to high risk. What shall we expect in near term? BPNYA well above 70 mark suggesting caution, however volatility ($VIX) is at historic low levels and everyone appears to be moving to BULL camp. NYSE remains near recent HIGHs but can it continue the momentum!!! Weekly chart still shows divergence between Price and MACD, however if the market continues to rise steadily then this divergence will be nullified soon. NYUD suggesting strong bullish trend for the market BUT it is getting stretched too far from EMA(21) and a snap back effect shall be experienced soon. We are seeing signs to be cautious for possible pullback which can be swift, however we do not see any signs of bear market or sever correction at this time.
What does it mean for our Investments?
Market remains in bull trend for now... Comments are closed.
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