Market continues to grind higher slow and steady as earnings season unfolds. Remember, timing is everything hence if you enter now be ready to accept bigger risk or else have patience for next opportunity. BUT when will that opportunity come!!! Below BPNYA chart shows BPNYA is well above 70 mark and every week keeps rising higher. Remember, BPNYA can continue stay in this range for long time that does not mean market will keep going higher and higher. Instead it ONLY means market might fall into a trading range. ONLY time will tell... On daily NYSE chart, market looks extended and one can expect sideways move or pullback soon. However, market has a knack to disappoint masses so its better to be cautious at this junction. From below NYSE weekly chat, we can clearly see that market is making all time high and appears to be broken out of resistance. How long will this rally last!!! But US debt ceiling debacle will be upon us beginning February of this year, both parties want to play politics and we might actually see history repeat itself and experience deja-vu similar to August 2011. Lets hope it does not get worse, once the debt ceiling issue is resolved we shall get the right opportunity... What should we do about our Investments?
Market continues to display bullish character, enjoy the party till it lasts... Comments are closed.
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