Will the market reach 3800?
By Jason Fittler
The market has continued to move ahead over the past week, can it continue to do so or will we see a pull back?
If I was a betting man I would be putting it all on a pull back. The volume has been strong over the past couple of days; however, the market looks over bought.
With a 20% gain in one month I would expect to see some profit taking coming into the market. I suspect it will reach the 3800 point then fall back to test support.
Any weakness from this point will be a good time to start putting some money in. Do not spend it all at once.
We are still in a Bear market, the name of the game is trading, look for opportunities to make a short term profit and take it. There are still a lot of economic factors at play.