Market got a nice bounce last week but is it here to stay!!! Greek elections are in next 10 days which will decide the fate of Greece to be part of Euro-zone. Jobs growth in US is unfortunately not gaining traction there by suggesting economic recession ahead if nothing is done. What shall we expect in near future? Below BPNYA chart shows NO signal is triggered last week and most likely we may not see a BUY signal for few weeks unless Global economic outlook changes. Interesting thing to watch here is the lower section of the chart where we can see Volatility index and NYSE index. As volatility rises, market becomes choppy and drops and vice-versa. This tells us that for a sustainable UP trend, volatility needs to drop. What is the below NYSE chart telling us?
Outlook (as it stands today) is not very encouraging for investment, So what shall we do???
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