Friday, July 1, 2011
Incredible Hulk
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.
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1 comment:
SOLD!
I had to take my profits.
I'll reload on the move lower next week.
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