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Stocks continued their relentless march higher on Tuesday with another modest gain, although the indices were mixed with the Nasdaq falling on some tech earnings. Once again the buying began at the opening bell but yesterday the bears made a move pulling the indices into negative territory just afternoon ET. The dip buyers were not far away and jumped in to push the Dow and S&P back into the black. The Dow gained 49-points, which was about 50-points off the highs.

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Stocks opened lower on Monday but the buyers stepped right in and took the indices higher all day. The "bad news" over no oil production cuts that sent the futures lower overnight, and the triggered the lower open, was quickly dismissed and the Dow ended the day up 107-points.

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Stocks opened higher on Friday but there seemed to be some tentativeness as the day went on. The important OPEC meeting on Sunday of this past weekend could be a market mover so buyers weren't as enthusiastic and took some risk off the table. The Dow lost 29-points on the day with the small caps, which have perked up again, leading the way with a 0.22% gain. Bonds were also up.

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Going to cut is short again, I'm just getting caught up from being out of town.

While the previous week 15 was a solid above average week, this has been a weaker than expected April, so I'm tamping down the SPX's end of month projection to 2% from the previous 4% projection.

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For the SPX 6-Month Daily chart, we've hit a Double top. For the bulls, we've made a higher high, but for the bears, we failed to get a solid higher close, so it's a draw. ...

The current rally really has a lot of experienced traders wondering just how much higher the stock market can go since the February bottom. It's very hard to predict a top; especially when global markets are being propped up by liquidity. What I can predict is that a top will come eventually.



Here is a 3 year weekly chart of the S&P 500. We can see that the bull market largely hit its peak in the Spring of 2015; almost 1 year ago. Since ...