One of my most trusted sources has long market history data and educated ass test says early stages of the rally still in effect. Market is now fully overbought and at risk of a decline....which should not derail firm uptrend which began in MArch.....no matter what back drop is, paper assets rise when liquidity flows their way....until that ends. There has been NO SUBSTANTIAL SELLING RISE and until we get to a level where SELLERS can regain control, it may be true, stranger than fiction the rally is far from over.
ONLY technical data saying trouble for the bull trend would throw water on the fire.
FED has began JAW BONING about rising interest rates, OIL now above $82 is not good for economy, good for OIL companies, bad for everyone else. GOLD uptrend is firmly intact.
I don't see SUBSTANTIAL improvement in fundamental data, the stock market is divorced from our reality and can stay that way for longer than you think. SPX 1250 not a crazy target....gotta go, maybe more later.
Duratek
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