Happy New Year! Hope your New Year has been great.
It has not been so great for our markets. S&P500 registered its worst five-day slide amounting to 6%, the worst on record. China index dropped about 10% for the past one week and oil clocked a more than 10% drop this week. Is this Armageddon? What’s next for our markets?
Read on to find out more…
Just to recap what I have mentioned on 24 Dec 2015, I wrote “it seems bullish as the exponential moving averages (“EMAs”) seem to be pulling apart and trending higher. However, at this point, it is premature to conclude that as time is required to observe whether the EMAs are indeed pulling apart and trending higher. Furthermore, the weak ADX at 18.3 on 24 Dec 2015 may reduce its effectiveness.”
–> As mentioned, time is required to …