hisah wrote:hisah wrote:hisah wrote:hisah wrote:NSE20 has flown past 3850 and smashed past 4000 handle to close at 4076. That's a 46.14% bounce from 2789 low! Are bulls getting ahead of themselves before year end

Testing 4000 handle is encouraging as it means the bears are heading out of town, but the current rush in prices doesn't offer a nice hunting ground for now. Sidelined. A reload window will present itself later.
4076 has not been exceeded since post election relief rally as the month comes to a close. Several counters (many banks including mpesa bank) have gap up holes in their weekly chart that was caused by the euphoria rally this month. Always remember that gaps get filled. Exercise caution in this market. Better reloading opportunities will come. Still sidelined until these conditions reset. September starts with a bang! Gaps getting filled. I'll state it again exercise caution in this market! When you live in these markets long enough you start seeing its heartbeat. In two trading days NSE20 has plunged 5.48% and in the process lost 4000 handle as well as the breakout support at 3850 handle as it closes for the day at 3806. Next support cluster comes in at 3450 - 3600. 3797 was the July close while June closed at 3607. The July and August gains are indeed at risk of being wiped out! Strong shakeout. There's no risk of August gains being wiped out, but a certainity!
COOP, IMH, KEGN, KQ, MTNU