True. I actually wrote about that in this journal in June and I'm not saying we will have huge rallies from here - just pointing out the obvious which is that we're making ATHs and currently going up. Most of the sizeable corrections have had ample opportunity to join on the short side, so better to wait for confirmation than shorting a rising market and being continually stopped out, IMO.
With regards to fundamental analysis - do you factor in actual demand for stocks? I don't know about the US or the rest of the world, but I know that in Norway, people traditionally have NOT been investing/saving in stocks. That's changed dramatically the last few years and now you the regular people actually saving in stocks for their pension on a monthly basis. Even my own girlfriend (hell, her mother also actually) who knows nothing about stocks is now saving in global index funds every month. Increased demand for stocks = higher prices. And an increasingly large number of people seems to think that a dip is a great way to get in on a bargain as they're saving for the long run. IMO, no matter our perception of pricing or general economics, the markets are 'rigged' to the upside.
I'm gonna play the ES today. Resting an order to start... s @ 3046 edit: no spike out of the gate. Take 43 edit2: out 42 Playing amzn. 1789.20 stop on amzn just north of the 200D $1801 I wanna see amzn drop 2% today. Pulling the stop down to 1794.90 though 10:01AM.. there's my drop.
I have a dedicated trading puter which I don't have networked to my browsing puter so I copy image to email and send it to myself on other and then copy over...didn't work this morning for some reason. Halloween cyber mystery