you can see this whole thing is going down very soon. By how much ? know one knows, but the monthly charts clear a lot of questions people are asking out there up. Good luck everyone....
To many thing say we need a pullback of at least 100 S&P points to keep things healthy here. We need to stair step up, not take an elevator, or els we will take an elevator down also. We are going to far to fast. Be careful here, if you get a sell indicator don't hesitate to pull the trigger.
Major resistance just a few points higher.
We are very close to a major trend line, and when transports hit it's line 9 days ago it began a pullback. Look for healthy market pullback here very soon.
This move is pushing the limits here. Oil is starting to pullback again. My bet is to wait for a small pullback here. In the last few years when you have a 250--300 point move you at least retraced 100 points. We are also about to hit a major trend line at 2090. Maybe better to book profits versus being greedy here.
We are up 260 s&p points with no pullback. Most points without pullback in last few years is 300. No need to push much harder here, may get burned if greedy. We would have rolled over already without Yellen speech. she definitely helped push market higher, but we are really looking stretched here.
can't go up forever hopefully just a small 3%correctionin a continued uptrend, and hopefully not a continuation of a larger longer term downtrend like some fore casters are saying.
And keep uptrend going into the summer before another pullback briefly.
Maybe moving almost straight up12% is much without a pause on the DIA. if you bought some energy ETF's at the bottom you now have a double, that is a lot with out some rest.