Market did manage to creep higher last week except on Friday when we saw decline on lower volume. Market is overdue for a pullback. News from Euro-zone keeps investors on the edge, however it seems like this might be a normal pullback which is healthy for the BULL market and NOT a major correction. BUT remember, anything can happen, its a "game of probability". Markets can keep creeping higher for weeks before the actual meaningful pullback or can breakdown in few days. So where are we headed!!! Below BPNYA Index current chart shows that BPNYA is well above 70 mark which in itself is time to be alert based on historical data. Soon BPNYA shall cross EMA(30) which will trigger our SELL signal. If you trade ETFs or Stocks then this might be a good time to make sure you have Trailing Stop in place to protect your profits or limit your losses. Once you get SELL signal ONLY then you make changes to your 401K account and move money from other funds to money market fund or cash.
For now be patient and wait for the SELL signal... Comments are closed.
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