It appears like this market has decided to continue climbing higher without a breather. With every passing day, more and more people are getting frustrated who happened to exit this market long back. Pretty much everyone is expecting a pullback but market often does not like to do what everyone expects it to do. Market can continue to rise further until eventually everybody sitting on the sidelines are sucked into it. What shall we do? Based on below chart, BPNYA is well above 70 mark and can stay in that range for long as we saw last time. However, opening new long term positions at this time will be risky and hence it is wise to wait for the right opportunity. Yet another HIGH and NO signs of backing down on daily NYSE chart below. The weekly NYSE chart looks bullish BUT over extended. We shall see a pullback or sideways move in near term. Key things to remember:
What does this mean for our Investments?
Market continues to be bullish for now... Comments are closed.
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