Absent bad news, we’re likely to run higher. Even after bad news, the market has proven it doesn’t care anymore and nothing will stand in its way of a technical rally.
This is what bulls see.
Semis are the bull favorite, especially after it was reported that Speaker Pelosi bought $5m worth of NVDA calls.
Today we have oil getting clobbered, which should allow retail to bid higher. Trying to get consistency in the oil trade has been difficult to say the least.
The path of maximum pain is higher. I know it and still fight it on emotional grounds. We are not likely to reverse lower until we get some downside surprises.
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