Bull Dominance Linger On NGX Ahead of Inflation Data, Banks Earnings, Q3 Window Dressing

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Volatile market and stocks can offer powerful returns to your portfolio. But it’s important to keep a keen eye on the downside risks they can bring as well. The volatility of NGX and others stocks had worked in favour market players but were quick to take profits while they had them. NGX so far in 2023 has been a year of unexpected gains. Many experts and market watchers were calling for a pullback or correction, even a crash, but the market has gone up significantly over the last eight months. The big question is, will it continue for the rest of the year, looking at economic headwinds and changing trading environment. To catch the short and long-term trading activities in the market, sentiment reports can help traders and investors to know who is wining in the market or a trade sellers or buyers. In trading, there is a big gap between online information or news and real trading, because 90% of all traders fails in their first 90 days while 10% of successful traders make money in today’s market because they have clear goals and strategies. Below are indexes chart and price actions to watch.

NGXASI Weekly Chart (Opening)

NGX BANKING INDEX