Message of the market IS.......

Last week we had many overhang for the markets as listed below :

-Greece

-US$ surging

-China 2nd increase in reserve requirements from Banks

-Fed raising of Discount rate

-Adami was SURE market is heading way LOWER

-Joe Terranova was buying VIX...betting on market going for a DIVE.....

-Dennis Gartman was shorting commodities.....betting on market collapse

GUESS .....what the market DID......we were open for 4 days only this week because of Presidents Day......

Markets were UP 4 days in a row......

VIX are down 8 days in a row.....

All Commodities surged......

All Indices are above 50 DMA......

Must be a very bad week for Adami,Terranova & Gartman...all their Talk & actions cost them a pretty BUNDLE......AGAIN ?????

SO.....where are we heading NOW ????

S&P 500 closed @ 1109.17

RSI in S&P 500 is 55.44

It is SAFE to see that TREND IS UP.......as we closed all 4 days near HIGHS of the day..a major technical SIGNAL of strength.......

My guess IS that...S&P 500 will take out 1150.45 HIGH easily......

RSI will race towards 70 area ...where profit needs to be booked.....

We are looking @ rangebound markets.....it will rotate between oversold & overbought many times until Q3...

YES...we SHOULD make a run towards 1200 in S&P 500....then another pullback IS in order....

For those who were waiting for "all clear"...here it is......BUT be quick when we hit targets as mentioned above.......

Here is my $/sector allocation as of Friday's close :

TSL 37.49% Solar fully integrated
PALM 17.14% Tech/Smartphone
APWR 16.40% AE/Wind Turbine
IAG 15.64% Gold Mining
SLW 13.33% Silver Reseller

I am highly concentrated in my picks.....BUT it should work out profitably......

Good luck in your OWN strategy..BUT stay DIVERSIFIED.

BLOG does NOT give buy or sell.

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