If you missed last 10 days, then you missed a major market rally. Two important events in past 10 days triggered this massive rally. For now, market remains bullish BUT for how long? What happened in last 10 days?
Short term Impact - (2-4 months)
Long term Impact - (1 year +)
Remember, all this will happen in time and NOT in ONE day, so NO need to panic. We will have plenty of warning shots to act and secure our capital. Below BPNYA chart shows BPNYA has reached 70 mark, time to be cautious. Typically when BPNYA is above 70 mark, market has a tendency to correct. But wait for SELL trigger [BPNYA crossing EMA(30) from above - early signal OR EMA(30) crossing MA(50) from above - late signal]. Clear resistance at 8500 level on NYSE daily chart is visible, expect zig zag action and a possible correction. However, this up move is supported by volume and may have some more room to run higher before any meaningful correction. Weekly NYSE chart chows clear breakout of resistance (shown by dotted line), next resistance near 8700 area. What about our Investments?
Stay alert and be cautious... Comments are closed.
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