The market remains in rally, however its 50 day MA remains still below 200 MA. Do not open new trades. It is one of the rules which I have broken again two weeks ago. The rally still may fail. These two coming weeks will show if the market would have enough power to break higher. At this time it moved at 50 MA and slightly above. If it stays there and continues higher, I can consider the market bullish. The economy is still weak so the growth may be temporary. Let’s see what the next two weeks bring up.
As you can see on the chart below, the market is slowing down in its uptrend while the volume is easing. This may cause there will be no more buyers and this rally will become a short one.
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