After several months of sideways move, finally we may get a breakout move! Are you ready for it? BPNYA well above EMA(30) and trending higher while Volatility ($VIX) is subsiding and settling into lower range which is helping the market to move higher. Almost breaking out of the top trend line as seen in below daily NYSE chart. Weekly chart is also showing that market may breakout in next few days above 11100 level. Watch RSI which is back above 50 mark and has broken the down trend line suggesting probable higher move in the market. NYUD appears to be confirming the next market move higher ahead of time as it is making a NEW HIGH and at the same time RSI is above 50 mark. All charts suggest a possible breakout move by the market in coming days which might be sustainable due to recent development on global stage:
What does it mean for our Investments?
Market on verge of breakout hence remains bullish... Comments are closed.
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