VIX may be the next to fall to new 52 wk lows, currently it is @ 11.39, 52 wk low is 10.88.
Anytime any technical pattern goes to new low, it signals a corresponding strength in major indices.
All indices are making new all time highs, Nasdaq intraday high is less than 11 points away.....
Russell high is 1296.00, currently @ 1231.30, that may be the next to move towards new all time high.....
Gold has made multi year high
Oil is stuck in $42+- area....
Many sectors like base metals are showing renewed strength, steels are strong.....
Strong technology leaders like GOOG AMZN AAPL are showing strength....
Semis are coming back after finding support...
Specialty retail has winners like COH, LULU but others are struggling....
Some earnings to watch for Tuesday includes VRX & COH, Wednesday KORS, Thursday BABA and Friday JCP......
Based on market momentum, it looks like we have series of new highs to be made in indices and in many strong stocks.
It is important to be there when there is a substantial UP move is happening, second guessing or overthinking has not helped many including Carl Icahn, George Soros who are in bearish camp for months.
Go with the flow, which is very easy to do, but difficult to stick to based on our differing trading style.
TAPE hardly is this strong, so IF we have it, then optimize your return with high conviction and high exposure.
Many weak stocks are also seeing a pulse in this TAPE namely BIDU, JCP, UA......
Good luck with your own analysis, conviction and comfort level.
BLOG does NOT give buy or sell.
Saleem
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