Humm... that is kinda what I'm counting on... Will see... Gotta jump in some day! Best wishes to you!
Feeling like I completely missed the party this Summer. uggh
Don't take my comments as trading advice /IFT: 4-1-24=100G/https://www.theepochtimes.com/ & http://www.ewg.org/PermaCharts@p430#5159/strategy#4918p.410
He has been calling for a melt-up since the beginning of the yr. He has been correct.
You STILL Haven't Missed the 'Melt Up' Yet!
"Our Constitution was made only for a Moral and Religious people. It is wholly inadequate to the goverment of any other." John Adams 10/11/1798
Summer and has come and gone and the market is sporting new highs and we are not even in the 6 month positive cycle.
S&P 500.png
There's nothing wrong with this chart if you're a bull. Fresh all-time and no overhead resistance.
DWCPF.png
Amazing how far this index has traveled since mid-August. And the like the S&P 500, no overhead resistance to deal with.
NYAD.png
When I tell you that cumulative breadth is very bullish, this is the chart I'm looking at. Not only is the signal hitting fresh all-time highs, but the 21 day EMA has not crossed the 39 day EMA in a long time. August was looking shaky for a bit, but now it's a distant memory.
The options are leaning bullish for Monday. NAAIM is bullish. Our TSP Talk survey is neutral. This market is not acting frothy at all. There are other sentiment surveys that more on the bearish side. That tells me we may not be anywhere near a top, though a pullback is always possible. What I mean by that is any pullback is likely to get bought.
I am sitting in cash the past few trading days, abandoning my TZA position in the face of a relentless drive higher in the small cap space. I'll be one of those dip buyers if we get one.
The market seems to be making a huge statement as the indexes start out the week with another big gain. Breadth is extremely bullish. The OEX P/C is bullish for Tuesday. It's really an amazing run to the upside. Good job to those who have been riding it.
We got more gains on Tuesday, but some indicators suggest weakness for Wednesday. That does not necessarily mean the market is ready to rollover at this point, so I'd not get too bearish just yet.
S&P 500.png
The S&P 500 has now traveled higher by more than 100 points since the mid-August bottom. Momentum is still rising, but RSI is overbought.
DWCPF.png
The DWCPF paints a more dramatic picture. The past few weeks has definitely been a buy and holder's market. RSI is very overbought on the DWCPF.
Cumulative breadth obviously remains bullish. The options look bearish for Wednesday. Futures are down, but not a lot. I'd look lower for Wednesday, but how much dip buying will we see? Any weakness does have the potential to carryover beyond Wednesday, but it's predictability is not certain by any means. The risk remains to the upside; short-term weakness notwithstanding.
We had a mixed trading day today. I thought the market would trade lower, but it really didn't muster much downside at all. The options are now neutral heading into Thursday. Breadth dipped, but that has not meant much over the last few weeks. The bigger picture is one of serious bullish market behavior. NAAIM reports tomorrow.
S&P500 (C Fund) (delayed) (Stockcharts.com Real-time) |
DWCPF (S Fund) (delayed) (Stockcharts.com Real-time) |
EFA (I Fund) (delayed) (Stockcharts.com Real-time) |
BND (F Fund) (delayed) (Stockcharts.com Real-time) |
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Yahoo Finance Realtime TSP Fund Tracking Index Quotes |
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