Market is struggling to remain in the resistance zone and might stay in this range for a while. However breaking out of this range is NOT going to be easy. Hence have patience and don't get frustrated...
Nothing has changed in below chart and all signals are favoring bullish market so far based on below chart.
Market was able to find support near MA(50) as can be seen from below chart, however can it sustain it!!!
Weekly chart below is also telling us same story as last week. Market may turn around and drop below into the bigger range.
US FED decided to taper its QE3 bond buying program by 10 billions and we shall see its effects in coming weeks.
What does it mean for our investments?
Market struggle continues to remain near HIGHs but be cautious...
What does it mean for our investments?
- Mutual Funds - If still invested in equities then stay put but be ready to pull the plug anytime. If in debt/bond funds then make sure you do not take a loss more than 8-10%. It might be best to stay in FDs/Liquid Funds/etc.
- Stocks - ONLY invest in strong patterns and never forget to have STOP LIMIT in place.
Market struggle continues to remain near HIGHs but be cautious...