Market continues to climb higher and higher, and seems like it is NOT going to back down anytime soon. So far earnings season haven't been stellar but not much disappointing as well. Besides, last week US House passed a bill to postpone US debt debacle till May. All these things are good for markets along with market making all time high and hence the path of least resistance is on UP side for now. But how far will this continue!!! Lets look at BPNYA history, as we all know "history repeats itself". What can we find out from below charts!!!
BPNYA Index is well above 70 mark and volatility is at the lowest levels. Just be cautious and do not get tempted. NYSE daily chart shows market is in excessive bullish mode and has been grinding higher. On weekly chart we can see NYSE broke 2 years high, however volume appears to subside with every higher move. How long will market continue to climb?
What does it mean for our Investments?
Market in extreme bullish mode but be cautious... Comments are closed.
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