Market in new all time high mode......

Market is all set to make series of new highs, it may start this week.

Stars are aligned....

VIX to hit new low...also this week

Here is a look @ my reliable RSI.....

SOX            69.60

S&P 500     69.39

Nasdaq       69.14

DOW          63.36

RUT           59.77

Based on the above numbers none of the above numbers are in 70 area, means we are not overbought. This time we may hit high 70 before any pullback.

SOX is making series of all time highs

S&P 500 may be 2 trading days to make it into all time highs

DOW may take 2 UP days to make it into all time highs

Nasdaq may need 3 to 4 days to make into all time highs.

Russell 2000 is the laggard here may take up to 4 weeks

VIX @ 12.01 ...52 wk low is 10.17.....which may be taken out end of this week.

Of all the stocks FB is looking very good to make a new all time high as soon as this week.

GOOG may try to move closer to its all time high

AMZN may also come closer in a breakout in indices.

There is an eerie silence on Wall & Broad, it may have an upside explosion and the herd will take over.

SO...based on the above optimistic scenario, it is wise to be exposed to this TAPE in a bullish way.

Technology, Semiconductor stocks must be overweight in your portfolio.

Once we get going on the bullish mode, train will leave the station in a hurry.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed