Dear Investor,
I do want to raise early warnings. Last week the market was suppose to make a break out to higher side and it failed. It did not break out as the technical pattern suggested. It did not even break down. What catch my attention is not the last week action but following chart. This chart is called guppy chart.
If you closely observe 2008 situation then you find some similar situation parallel to today's market condition. There is never any guarantee in market analysis and its accuracy. We could only attempt to draw conclusions based upon our past experiences. Overall with geological issues in Japan, Political issues in India and Economical issues in US and Europe and overwhelming bullish retail investors in markets, I guess we have perfect combination for negative sentiment. I do not intend to cause any panic among us and just wanted to highlight overall formation of technical indicators.
Sometimes its better to be out and just watch the game
Thanks
Anil
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