Market is again close to a breakout, however will we get a decisive move here!!! Earnings season is underway and shall provide the much needed market direction. What are charts telling us? BPNYA stays above EMA(30) while volatility ($VIX) continues to remain low. Daily NYSE chart shows us that market is near earlier HIGHs along with RSI above 50 mark. Can it overcome the resistance with a massive move up remains to be seen. Weekly NYSE chart displays that RSI is above 50 mark and market might be attempting another breakout move, however unless volume shows up the move might end up being fake! NYUD is making a NEW HIGH which is a encouraging sign along with RSI above 50 mark. Charts are telling us that unless we get a clear breakout stay on the side lines. Earnings season is underway and next two weeks will provide further market direction.
What does it mean for our Investments?
Market attempting for another breakout... Comments are closed.
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