600 M shares traded in first half hour, that's pretty strong buying. AS my last long term chart showed, even 1550 SPX not out of question for this move, certainly we will be watching from 1400-1450.
Last night reversal and falling VIX was warning that bullish positioning could be taking place in front of this number. A lot of your thinking will be based on your time horizon. So if in the market first figure out what kind of investor are you?
Staying out if diversified still paying off, But I won't change my longer term outlook for lower prices, that DOESN'T, and I wasn't advocating shorting HERE....there will be time and raising cash would be a conservative man's approach to shorting as you hope to buy at lower prices.
I personally don't worry about missing anything here, I am an observer of the market and doing my best to present an accurate picture of the longer term trend and climate. If you remember the previous 2 Bear markets, the declines come out of nowhere and can be brutal.
The data can be misleading, so when that happens, do you see the value in technical analysis?