Everyone is expecting a pullback or minor correction, BUT market seldom does what everyone expects. After Fridays job report, it is highly likely that market may continue to move sideways thereby NOT providing any meaningful pullback opportunity. What does it mean for us!!! BPNYA continues to remain above 70 mark, however volatility is at low level which could mean that market may continue to remain at current levels avoiding BPNYA to drop below 70. It appears that market tested the support near 9900 level and might stay in current range for a while. On weekly chart, divergence between Price and RSI, MACD continues, BUT such divergences can remain for longer periods before market finally starts a solid correction. The farther the divergence, results into severe correction. ONLY time will reveal, whats in store for us and when! What does it mean for our Investments?
Market appears to be consolidating and benefit doubt goes to BULLs... Comments are closed.
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