Hey Folk
Quick and dirty. Market are bullish. So many things happened and is going to happen but is ok. it is a BUY as of now.
Quick and dirty. Market are bullish. So many things happened and is going to happen but is ok. it is a BUY as of now.
This is Nasdaq Composite from yahoo finance
The line that I drawn is the historical high created in 2015. It is about 5200+. Now Nasdaq is about 5000. I do think that it can storm pass that historical high. As Nasdaq is suppose to be the leader of the leader of all market, one can use this as an example to calculate roughly where to profit take. The horizon for now is about 3-6mths. Where exactly will it land is a billion dollar question. This can only serve as a guide.
Taking bond and stock relationship as another guide. The bond market had make new high again and again. So if stock are lagger and it follow the bond movement, it may too have these phenomenon.
Another indicator, taking the week advance stock vs decline stock,( this indicator usually is use to pick the top) are showing that it is supporting stock up move.
Another indicator, VIX have show buy on the 3rd day after Brexit which I follow till today. VIX not showing anything else as of now.
Talking about S&P500, is a weekly uptrend but most of the technical indicator are showing divergent and overbought so becarful. But this do appear in extended up run.
However the run is Pls do exercise due diligence and proper money management.
quote from Jesse Livermore 'The market does not beat them. They beat themselves, because though they have brains they cannot sit tight'
quote from Soros 'If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring'
cheers
