Indices are all set to make new all time highs.
US$ is retreating...
Oil is finding support
Gold is gaining strength
Silver is looking strong
Non US$ currencies are spiking UP
RSI @ 57.44 has lot of room to move UP
Since December of 2014, S&P 500 has not moved UP and has built a nice base over 4 months.
There is a lot of skepticism among traders about this rally, which is a good contrary indicator.
S&P 500 can easily rocket UP to 2150.....
Nasdaq which is the strongest of all major indices except RUT, has RSI of 64.71, this still leaves room for hitting 5,100.....
This is a very good environment for adding exposure and buy strong stocks.....
Many strong stocks are all set to go to new highs.....
Software and security stocks are pulling back, they may be ripe for picking.
@ this stage you may be able to pick gains in EEM stocks along with currency gains, this can add up to substantial gains in total return as their currency appreciates along with stock prices......Canadian stocks fits this idea nicely.
Coming weeks may be the most opportune time to add substantial gains in your portfolio.
Good luck with your strategy.
BLOG does NOT give buy or sell.
Saleem
1 comment:
Hi Stocktrader,
Hope you are back from vacation.
Bought SWIR @ $34.00.
Saleem
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