Before I start this post, I would like to thank everyone who signed up for the financial fitness forum and the launch of my new book: Where Should You Invest?, this Saturday at SMX Aura! If you would also like to learn more about trading and investing in stocks I would like to invite you to our Stock Market Program happening this April 2,9 and 16. Looking forward to see you all!
The PSEI is now 16.5% from its lows last January! For the first time the market has a shot of turning bullish again.
Now let’s get to business. Is the market out of the downtrend? Yes. For now.
Something happened last March 3, 2016 when the market broke out of the downtrend at 6,963. At this point there is one thing we are sure of is that the market is out of the downtrend. We now know that the sellers don’t overwhelm the buyers anymore.
What will keep the stock away from the downtrend?
The stock must stay above 6,915. If not all of this is nullified.
Are we in an uptrend? Are we starting to reverse upwards again?
Not yet, we need more confirmation for that. The market needs to breakout of 7,125, when that happens we the PSEI turns bullish again for the first time since early last year. If you are a person who likes to position when you are sure the the selling is over this could be a good signal for you.
What should you watch out for?
If the market would break out of 7,125 the next possible target price of the market would be at 7,327.
I’m excited to share my latest book, Where Should You Invest? This will answer one of the biggest questions on the what, where and when you should invest on. I will also tackle the concept that there are certain investments that work well with others and some investments that don’t work well at a certain investment phases.
This is aimed to help investors have a holistic sense on how they can grow, maximize, and preserve their wealth!(Stock Smarts Book 4 is also coming this year)
To order: http://goo.gl/forms/AaciOAg92H
*Charts via chartnexus
*Picture via searchenginejournal.com