The big question is, how much more can this rally go? With the NYSE Bullish Percent Index rising up to 40% as of yesterday, sentiment would indicate that there is still room to run (70%+ is traditionally overbought territory).
I’m also watching the 75 day MA which, at 826.12, is a key level near term. If the market can break through that level this week, I think we could see 875-880 next week. Just saying….
Trade what is in front of you, not what the talking heads are saying or what your emotions are telling you.
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