The Market Rally Is Relentless
The market rally is relentless. The PMO index is still pushed up against its maximum. Very bullish.
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The bullish percents continue to confirm higher stock prices.
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There isn't a bit of market hesitation showing here as these indexes continue to confirm. It is a very bullish chart, but I worry about how this will end. I am using the rally to gradually take profits, and weed out under-performing positions.
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Check out this article. I couldn't agree more.
Fed's Dudley warns that tax cuts putting economy on an 'unsustainable path'.CNBC
Outlook Summary:
I worry that the gains in the stock market have been too much and too easy. I am gradually moving from offense to defense in my accounts.
The long-term outlook is positive.
The medium-term trend is up.
The short-term trend is up.
Disclaimer: I am not a registered investment advisor. My comments above reflect my view of the market, and what I am doing with my accounts. The analysis is not a recommendation to buy, ...
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I sold some call spreads today, but even those might have to be closed out if the market grinds higher. Seems like there is little resistance at this point and no way to tell when overbought will start to matter.