Are indices in "blowoff stage"........

Every trader is loving the TAPE action in all indices......

Many are looking from outside & watching this phenomenal bull TAPE.....

Almost everyone is asking the same question?

How far we can go in this euphoria......?

Bear Bull ratio has reached the highest point in last 10 years with bulls @ 60%...

RSI is near highest point in last 5 years of this amazing run......5 yr RSI stands @ 85.16......quite alarming....

SO..based on all the above, what picture is emerging of this Bull run........

My interpretation is .......that we have entered "blowoff stage" which may be familiar to those involved in 1999-2000 run......

There may be a desperate push to get in this market before it goes even further UP......

As i am expecting sideline money to "jump in" we have more room to go higher......

Based on my read, we may see close to 2000 in S&P 500 before any pullback of 3% to 5%......

It is all about money flow into the market, which has accelerated in last few days...i expect it to go higher in coming days...CMF is a good indicator of this trend...

SOX is looking very good.....

Russell 2000 is fighting back towards north....

That famous Head & Shoulder in Nasdaq has become Cup & Handle...a remarkable change in technicals.....

SO.....all system is set to go North until it reaches extremely overbought which will be for "record books"

Every decade, we reach levels not seen before, this time its all positive.

BLOG does NOT give buy or sell.

Saleem