Last week, we got some good news regarding local US economy. Hiring is picking up, unemployment rate dropped to 8.5% and manufacturing production is going up. But apart from 1st trading day of the year and in-spite of good news, market could not push higher, these are signs of tiresome rally. Although, we have good news on US side, let's now forget that Euro-zone issues are not resolved and Asian markets are not doing well due to slow down in their economies. 2012 might be another year like 2008 when we shall see a roller coaster ride..... BPNYA index tells us that for now we are in upward trend after our initial BUY signal on 3rd week of DEC 2011. Enjoy the upside till we get SELL signal... Some time back we posted NYSE comparison showing similarities between 2011 & 2008. Take a look at below updated chart. We guess, you can make your own judgement... Beware of below signs:
STAY alert, have discipline and abide by rules... Comments are closed.
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