Market has rallied strong from mid October and shows NO signs of slowing down. Will it break earlier HIGHs or setting up for another drop!!! What can we expect in near term? BPNYA is above EMA(30) and trending higher while Volatility ($VIX) is back to lower levels. NYSE did pullback briefly near MA(50) and appears to be bouncing with steady rise. Need to watch RSI here as it appears to be trending flat. Weekly NYSE chart is telling us a different story -
NYUD is also showing some concerning signs -
Weekly chart of both NYSE and NYUD are telling us to be cautious. Although last two months of the year are seasonally bullish for the markets, does NOT mean it will be same always. It is better to be prepared than be surprised.
What does it mean for our Investments?
Market BULLs gets benefit of doubt for now...
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