For now let's see how they cope with some little overhead resistance somewhere at current levels:
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Click image for original size
JA
jarek
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Posts: 3,474
Looks like no economic news can stop the bulls these days. It would have to be something much, much bigger, but also then they may use it just as another buying opportunity on the way up.
For now let's see how they cope with some little overhead resistance somewhere at current levels:
For now let's see how they cope with some little overhead resistance somewhere at current levels:
JI
jimkane
Rep: 3,058
Posts: 33,089
Now it's just a matter of can it grind to a new high for the entire 'bulls#$&' market before the close or not...
JI
jimkane
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Posts: 33,089
And yes, I still see it as very vulnerable here (ES, crude, gold, etc.) and prone to a swift selloff if they can't keep the 'momentum' (what a joke) up. I'm only commenting on the intraday here.
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jimkane
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Posts: 33,089
Crude is acting like it is about to break to the downside. I'm being very cautious in here.
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jimkane
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Posts: 33,089
Another one-tick high in the grind that produces no reaction. The last two trading days have been bizarre.
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jimkane
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Posts: 33,089
The gold move is back at the high for that move, though, and looking good.
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jimkane
Rep: 3,058
Posts: 33,089
It had to get one tick higher! That also got it to the exact 1.272 at 36.20 on that ABCD. So, we got a weekly close essentially at the high tick for the week, the month so far, and the entire 'bulls#$&' market. Those poor bears, still trying to call the top. For me, I'll just keep creating 'ride the long' plays.
It's the bulls time in the sun. I'm not going to fight that. I just saw in a Bloomberg survey not one single analyst was bearish on next year. 100% bulls! I'm seeing 'breakout' and acceleration calls everywhere. Sentiment is extreme for the bulls. It can get more extreme, or stay extreme for a long time. The $VIX is dragging on the lows, but can get lower.
Midcaps one good trading day from new all-time highs. Russell, Transports, etc. right behind Midcaps. The entire drop from the crisis erased, new all-time highs. Unreal. It's the bulls time to shine. Let them enjoy it, as it won't last. The bears will shine again, just not today. Goin' with the flowin'...
It's the bulls time in the sun. I'm not going to fight that. I just saw in a Bloomberg survey not one single analyst was bearish on next year. 100% bulls! I'm seeing 'breakout' and acceleration calls everywhere. Sentiment is extreme for the bulls. It can get more extreme, or stay extreme for a long time. The $VIX is dragging on the lows, but can get lower.
Midcaps one good trading day from new all-time highs. Russell, Transports, etc. right behind Midcaps. The entire drop from the crisis erased, new all-time highs. Unreal. It's the bulls time to shine. Let them enjoy it, as it won't last. The bears will shine again, just not today. Goin' with the flowin'...