Im sure he does, however please tell me how once again this economy is going to keep its "great" economic growth going with $100+ oil.
Once again, you miss the train and compare fundamentals in a market that doesn't care about fundamentals one bit.
June new home sales up 11%..... vs up 2.4% in May..... Wow this is great, let the rally continue. Im buying, buying, buying.
those who plan on buying into the current uptrend, where would you buy? will you wait until SPY pulls back to ~95 (middle of June top range), ~96 (upper level of June high), somewhere else?
Look for a pullback to previous resistance around 93-94 and buy into strength off that level? (Prev R becomes S)
at this point 93-94 level appears unreachable. may take some time to get there. as we are sitting at the insanely high level ~98 (compared to march lows), a reasonable pull-back is very likely (especially after the most recent run-up) . yet, i see every tiny dip being vigorously bought. probably too many shorts got trapped and are bailing out at every opportunity. looks like we are not going down until the recent shorts are gone. how to get rid of the current shorts supporting the market? one scenario is that we keep trading in a narrow range for some time as the shorts are slowly bailing out. another scenario is a sharp run-up to panic the current shorts out.
how can it be a multi yr bull mkt.There is completely no liquidity in the small caps!! This tells me risk taking is at an absolute minimum