The market has transformed into a hulk. There is no stopping this market. Up 60 points in 5 days in a straight line. No dips. We are fast approaching signficant resistance in the SPX 1330-1340 area. I think we'll spend some time in that zone before heading to test the year's highs at SPX 1370. Those looking for a pullback are everywhere. I don't think the market gives it easily because of the number of underinvested fund managers totally caught off guard by this sudden strength. I am just watching in amazement and reminded once again that the market doesn't always repeat but often rhymes.
SOLD!
ReplyDeleteI had to take my profits.
I'll reload on the move lower next week.