S&P 500 all set to make new all time high......

S&P 500 is only 18 points away from making new all time high.

TAPE has finally turned the corner to a slow & steady move towards new high

Bull are @ the lowest level in 3 weeks @ 50.4% from 54.5% and before 55.6%...looks like many are disbelieving this "stealth run".....healthy skepticism is good for the market...

Many buyers are on the sidelines fearing head & shoulder pattern in Nasdaq.....these patterns comes and goes......

Chinese stocks are having a "bull run" as Hong Kong trades are allowed......

There is a feeling that Chinese economy may have seen its low point, it has been a long downward move since 12% growth in GDP in 2008......after 7 years many adjustments have taken place in Chinese economy.......7% is doable on a sustained basis which is better than all economies in the world...

India may be catching up to China in GDP growth with a pro business government.

US economy is @ moderate growth which is healthy based on no QE ...

Europe may be catching up to US economy in couple of years

Canada has adjusted to "oil price shock"

Oil is finding its level and may be creeping towards $60.......

All of the above have taken most world exchanges to new multi decade highs, this is pointing to renewed strength in many economies.

US markets go through usual pattern of bullish moves from October to April, then corrective mode from May to September.....I believe we may see this pattern from now on....

This does not mean that sell in May will affect every sector but broad averages do suffer.

It is good to book profit once we see a peak in current rally......which may last another two weeks...

Non technology stocks may shelter any "corrective moves"

Sector rotation needs to be in focus now......

It is always a good idea to "tinker with exposure" in weaker months......

SO..it is time to study charts to see which sector may benefit from "normal correction"

Good luck with your analysis & comfort level.

BLOG does NOT give buy or sell.

Saleem