26/04/2021 - 08:59
Strategy weekly — Sea of volatility
Stock prices appear to have topped out for the short term. The VNI reached an intraday weekly high of 1286 points, precisely 1.08% below our April target of 1300. We still have four days to go in April, but at this point we think that Thursday’s peak is likely to be the next major resistance line and we don’t think the market will challenge this level for a while. This is despite Friday afternoon’s bounce, which saw the VNI bounce 2.7% from its daily low but which was concentrated in the big caps.
