S&P 500 headed to 1300 area..quite possibly !!!!

S&P 500 & entire market turned around in a big way with internals extremely positive.Why do i focus so much on internals ,because it is showing the "real strength" of this market.

Many sectors are making new highs be it tech,retail,autos,restaurants,base metals or gold.

This market has the trapping of a "major bull market" like 1998 -2000.....

All those skeptics of this market like Prechter,Rosenberg,Kass,Adami,Roubini are all looking "extremely challenged" in their ability to either see or predict the market direction.....

We had all the reason to go down 300 points with weakest jobs report...BUT we closed green ???

Many HFT & hedge funds decided to wait out the disaster of jobs report till Monday to catch low low prices....BUT they will all be a buyer @ high high prices on Monday.....

YES...i expect Monday to be a "very strong day"......

So..IF you have done most of your buying by Friday.....you will look pretty good on Monday..

Those of you who stayed put ,will also be rewarded on Monday.....

SO...the bigger question IS ????

How high S&P 500 CAN go in this "run for the roses".......

As RSI is @ 62.63..there is lot of room to run...RSI can easily head towards 78 area.....

Translating into S&P 500 numbers,i will not be surprised to see 1300 area in this run.....

1300 target,closed @ 1224.71.....potential lift off of 76 points or another whopping jump of 6.2%..

Some of you alway's WAIT for IBD to give confirmation of any rally...well that has NOT worked well @ all..you have missed buying stocks @ low of the day while IBD announced "market under correction"

SO..all IBD followers will also pile in to buy @ new S&P 500 high on Monday......in some case like solar stocks they will be buying @ 20% higher????

The point of IBD reference is that in a strong bull market you are better off rotating from extended stocks like NFLX @ its peak to stocks in beaten down stocks like Solar & Gold???

Some stocks like FFIV,RVBD,AAPL,AMZN,BIDU,PCLN have not gone too far from their recent highs........some actually made new highs while IBD was in a PANIC mode & suggesting sell sell sell......

SO..try & understand this market ..it is a strong bull & going much higher...

NOW..it is year end performance for HFT/Hedge funds/Mutual funds/Private equity..they will all pile IN........

SO stay put in good stocks even when they are resting above 50 DMA.........sooner than later ,they will take off also....

SO..try to capitalize in the next four weeks,which could be the-best in a long long time !!!!!

Good luck with your OWN comfort level & home work.

BLOG does NOT give buy or sell.

Saleem