Semi index is literally up every single day no ifs ands or buts...it is literally printing free money...you don't even need to work..just buy the semi index and let that free risk money pour right in.....SOXL is up 50% in less than 45 days!!! Let me repeat SOXL which is Triple etf is up 50% in less than 45 days.. In the last year it is up over 150%!!!! It is literally printing money. Free money every single day, week, month and year!!! Just keep buying anything and everything, markets at another historical high....free money free money Zero risk all reward all the time!!!!!
I see nothing right now that would have me building a short. Sure the markets are overbought. What I've seen over the past 17 years is, they can and do stay overbought for quit some time. I'm always looking for signs of weakness, my favorite is market breadth. When market indexes make a new high but breadth does not. The monthly is great.
Fed decision today but absolutely zero worries because the chance of a rate hike are non existent, so kick back wait for the fed to announce their boring fed statement of zero rise in interest rates and collect your free money into the closing bell.....no need to raise interest rates yet... someone has to keep this risk free money pumping markets going and the fed is doing just that as they create the biggest asset bubble the world has ever seen....thanks yellen for all those free trillions!!!!
I'm willing to bet that the data coming into the next fed meeting will give them wiggle room to skip the December hike. So a weaker read on data, not to weak just weak enough.