It’s been a few slow weeks for me as well as the markets. I have not been doing much on the investment front recently and really it’s a difficult market to invest.
Trading is another story.
1130 is the resistance that the bulls just could not get across but sentiments recently have been rather lukewarm. The number of bulls are being turned by this lethargic markets.
Recent sell downs have been rather drastic. Volume is higher on selldowns then uptrends. Breadth indicates market is short term oversold.
3 Forward Ways:
- Range bound trading within 1130 and 1040.
- Market is so weak that i t fails the EMAs congested just above.
- The reverse head and shoulders herald a continuation of upward climb.
All very likely scenarios and the thing is to make decisions, take actions and then react based on your plan.
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Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
You can view Kyith's current portfolio here, which uses his Free Google Stock Portfolio Tracker.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
You can read more about Kyith here.
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