Sunday, 5 January 2020

Missiles & drone attacks to impact trading.....

When all Indices were making series of new all time highs, a drone attack disrupted this uptrend.

Market will and should wait for retaliatory attacks and counter attacks which may become norm.

War of words and missiles will dominate news....

Tweets will get uglier by minute and action may follow....

How market takes this is yet to be seen.....

Market has to figure out " how much is rhetoric and how much is reality "

While we wait for verdict .......

Indices are comfortably near all time highs...

Here is the picture of RSI :

S&P 500        65.74

Nasdaq          68.27

DOW            62.20

SOX             62.68

IWM            61.61

XLE             66.35

GLD            81.90

Analysis of above tells me that GLD is overbought and rest of market is buyer friendly healthy....

Any dip or pullback needs to be dealt with patience or strategic buying for swing trading.

We have entered an era of uncertainty and volatility short term.....we just have to watch what develops in International arena......

I have a strong feeling that Trump strategy will fail miserably this time and will be counter productive.....thus good for market.

Good luck with your own interpretation of non market driven events and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

0 comments:

Post a Comment

 
Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Online Project management