Market is climbing higher amidst earnings season, however don't get complacent. The breakout lacks volume but market can continue higher causing maximum pain for all those on the sidelines. What are our charts telling us? BPNYA well above EMA(30) and volatility ($VIX) continues to remain at lower levels. NYSE is making NEW HIGH, however the breakout is not very decisive and volume appears to be missing. Weekly chart displays that the breakout is in the process, RSI is above 50 mark and MACD appears to be turning around. But again breakout volume is missing for now. NYUD is at NEW HIGH along with RSI managing to stay above 50 mark. Charts are giving benefit of doubt to BULLs but also telling us to be bit cautious. The breakout can easily turn into fake out.
What does it mean for our Investments?
Market bulls get benefit of doubt for now... Comments are closed.
|
Details
What is NYUD?
What is BPNYA?Archives
January 2020
Categories
All
|