At this moment, following the successful refinancing exercises in Europe and news of lower GDP growth in China (prompting talk of changes in Chinese monetary policy), nearly all markets are up – currencies like the Euro, world stocks and various commodities.
Of course, they must appreciate vis-a-vis something, and that something is today’s loser – the US dollar.
On the local front, the equities market still looks resilient and hovers near the new all-time high. A breakout would suggest the general uptrend remains intact. I know, especially during these times of dizzying trading gains, it can be confusing when to sell. The market appears to be clearly trending. As simple and silly as it sounds, as long as stocks keep making higher highs and higher lows, HOLD. (If, instead, they start making lower lows and lower highs, that’s the time to consider selling).
Enjoy the uptrend, Traders!