This BULL train appears to be unstoppable, market is discounting many global events and making NEW HIGHs. Will this BULL train take a breather? BPNYA has crossed EMA(30) while moving higher and Volatility Index ($VIX) has subsided back to low levels. Daily NYSE chart is displaying divergences between Price and MACD, PPO, RSI. However RSI is well above 50 mark suggesting the continuation of the rally. Weekly NYSE chart is also displaying divergences between Price and MACD, RSI. Again RSI is well above 50 mark suggesting rally continuation. Watch NYUD carefully, RSI was making divergence with rising NYUD which might be nullified. Rising NYUD is a sign of volume supported rally. Charts are suggesting that this rally is well supported by volume and might have more legs, however be prepared for a mini flash crash which will take everyone by surprise. This is a classic character of a MEGA BULL rally and that is the real opportunity to get in at low risk level. Be patient and wait for it...
BULL rally continues as everyone awaits a pullback. Comments are closed.
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