Market ready to move UP.......

It has been 7 weeks of slump in worldwide markets.

US markets may have overdone on the downside.

DOW is giving signal that " worst may be over "

DOW is the only index which is above 200 DMA.

S&P 500 & Nasdaq are below 200 DMA

SOX & RUT are not only below 200 DMA but are showing " death cross "

Since DOW is giving " contrary technical picture " it is safe to buy stocks which are not in the " epicenter " of this down move.....

Who are in the " epicenter " of this down move......AAPL FB GOOG  AMZN MSFT NVDA......to name a few

YELP is in neverland

Most technology stocks are trying to find support.....

This may be a rare chance to buy high growth stocks @ sharply discounted price

Technology are offering " early black Friday sales "

Sentiments could not be more negative after 7 slumping weeks, a reliable contrary indicator......

SO...get your confidence UP and do some homework on your strong buys....

You may look back @ current prices as the most opportune in a long long time...

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed