Market continues to make NEW HIGHs and tempts everyone who is in cash or exited market early, Isn't it!!! With all the chatter on the news and watching market flying high with each week, its damn difficult to stay out of market. So what should we do? What is BPNYA telling us?
On daily chart, NYSE successfully bounced from MA(50) line making another HIGH this week. On weekly chart, as expected NYSE is moving higher. However, check the MACD line in bottom portion of the chart suggesting a crossover can happen anytime. Since we are in earnings season, expect higher volatility which will drive the market to move in zig-zag motion. Although it is tempting to get into this market which appears to fly high, the risk of nearing to a correction is higher. No rally can continue forever and at some point the music will STOP. Market entry & exit are crucial and discipline always pays-off.
What does it mean for our Investments?
Market continues to remain bullish, however be cautious... Comments are closed.
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