Market firmly in bull mode......

Markets are enjoying the best bull run in a long time.

Many so-called resistance or top has been sliced with ease.Yes there has been some pullbacks along the way, but they were pretty mild of 3% to 9%.

IF we look @ the gain from 666 low in S&P 500 in April 09 to today's close of 1363...that is a gain of 697 points or 104.65% in 24 months......

I do not recall any technician or fundamental analyst predicting anything near to the gain which we have seen so far.On the contrary, we were told to get ready for a major pullbacks @ every 20 points gain in S&P 500.

Here is the RSI read as of close :

S&P 500 69.13

Nasdaq 70.04

Dow 72.67

Base on RSI & the momentum, it is easy to see that S&P 500 should climb above 1400.....best guess is a high of even 1460.......

Many stocks are making new highs, which should be the focus in any new trading position.

Market TAPE is extremely orderly & in a major UPTREND.

Not only stocks are in a major bull run , but Gold,Silver,Oil,Copper are also in historic highs.

IF we take Gold ,Silver, Copper to new all time highs, it will be a safe assumption that stock market will take out all time highs easily.Not only that, but it may make series of new highs like Gold & Silver.

Of course there will be periodic corrections, which will be fast & sharp.

SO, IF you are a trader...there is lot of opportunity on a daily basis.

IF you are an investor, stay with themes which is working.

Good luck in your OWN homework, we all are as good as our last stock picks.

It is critical to get out of any failed ideas quickly.

I have shown by example, IF things go south..I am OUT.

BLOG does NOT give buy or sell.

Saleem