According to Chinese ‘feng shui’ a month with 5 Mondays, 5 Saturdays and 5 Sundays is called a ‘money bag month’. This rare occurrence that happens once in over 800 years is happening this month. We hope that if this is true we’ll end up earning a lot of money this month.
Despite continuous losses during the month the BUY signals on the monthly charts remain intact showing that the long term trend is still up. With daily RSI’s on the oversold threshold and those on all other charts in the below neutral region the market has sufficient potential to move up if provided with a sufficient stimulus to spur it into action. In the conspicuous absence of market ‘movers and shakers’, big buying by state institutions with money to invest is badly needed to bring back retail interest towards the market.
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