Technicians have come up with a dream of market going UP till March. They also have a dream of no correction till April.
Technicians are dreaming 1600 in S&P 500 before correction can start.
Technicians can dream all this based on Investment Managers being most bullish in a long long time since that great march, when Martin Luther King made that famous speech of "i have a dream".....
Technicians are also dreaming big because they can "clearly see highest short interest in over a year"
Technicians are dreaming bigger because there is a "biggest shift in allocation from Fixed income to equities since the dark days of 2008"
Technicians are also dreaming big based on VIX which has crashed to the lowest level since April 2007
Technicians are also getting super confident as politicians are postponing dealing with debt ceiling issues till....guess what... April....
SO..stop worrying about any indicators......
Sit back & enjoy the biggest runup which markets will ever see......new all time highs in S&P 500 is a given...all of course guaranteed by technicians...who are known for making "dream big predictions"
Monday markets are closed for Martin Luther King day
Tuesday GOOG reports
Wednesday AAPL reports
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
We had an up and down weekend with both a 95-yr old passing and a 4-yr old birthday in the family--difficult emotional swings for many.
Based on your blog, how do you look to be positioned?
Stocktrader
Hi Stocktrader,
Sorry to hear about your loss in the family, hope everyone has recovered from that.
Birthday gives lot of optimism for future especially when they are as young as 4......
I think markets are on a steady climb north...wise to stay long.
Saleem
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