Market experienced a minor pullback last week and Friday's job report gave it a boost. The farther this market goes higher without a meaningful pullback the higher risk of drastic and volatile fall we have in future. BUT no need to panic as we will see signs... Not much has changed in below BPNYA chart below, BPNYA continues to remain above 70 mark while volatility is contained below 16 mark which allows market to continue its bull run. On daily NYSE chart, we can see that market didn't even touch MA(50) line and got the bounce due to jobs report on Friday. On weekly chart, the divergence between Price and RSI, MACD is diminishing slowly. Now, lets look at a different chart which can provide us with some more clues. Below NYUD chart is a cumulative advance-decline volume chart. Usually, NYUD provides early signs before major market drop. You can see the same chart under members area plotted from 1965-2000 and 2000 till date. Based on all the information we have so far:
What does it mean for our Investments?
Market continues to show bullish character but be cautious... Comments are closed.
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