Friday, July 1, 2011

Incredible Hulk

The market has transformed into a hulk.  There is no stopping this market.  Up 60 points in 5 days in a straight line.  No dips.  We are fast approaching signficant resistance in the SPX 1330-1340 area.  I think we'll spend some time in that zone before heading to test the year's highs at SPX 1370.  Those looking for a pullback are everywhere.  I don't think the market gives it easily because of the number of underinvested fund managers totally caught off guard by this sudden strength.  I am just watching in amazement and reminded once again that the market doesn't always repeat but often rhymes.

1 comment:

Anonymous said...

SOLD!

I had to take my profits.

I'll reload on the move lower next week.