As expected, Euro-zone crisis is holding this market hostage and in addition to that misery, Friday's US jobs report was very disappointing. Fasten your seat belts, as next few weeks we shall see increased volatility with wide swings. Why?
What shall we expect!!! Below BPNYA chart is self explanatory. NO signal generated last week, neither do we expect any signal to generate next week unless Macro global forces act immediately. Make you own judgement on below NYSE chart, tell us if its difficult to find "path of least resistance". Expect a bumpy ride for next few weeks, as macro global forces take action to stabilize Euro-zone crisis and even Fed might intervene in US to provoke jobs growth for economic stability. This is ideal time to perform your research and keep a watch list of stocks as potential BUY candidates so that you can act when market turns. However be alert and cautious and do not fall into traps. Regarding 401K, stay put and have patience.
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