Did you miss this monster move in US stock market ?

There could be many who missed this huge rally since October 2019.....

SO..you missed 3 months of bullish TAPE amid many uncertainty......

- Fed was unsure about direction of Interest rates.....

- CHINA & USA were exchanging Nasty rebuttals through tweets and official statements..

- IRAN was in limbo with what to do with renewed sanctions.

- Brexit had no exit

- There were two countries INDIA & PAKISTAN doing their own version of war talk

-Then IRAN & USA had their own version of Missile and Drone kiss and makeup...

BUT US markets kept rallying through all of the above as IF it knew ahead of time....

Most of the above issues are " on side "

Market made its own "mini adjustment " by being down 2 full trading days......

SO for those who missed everything from October because you were too afraid to get into tweet diplomacy.....here comes the real rally now....

RSI is very appetizing for those who missed this rally, and they are :

IWM              56.90

SOX               61.30

DOW             62.41

S&P 500        67.69

Nasdaq          73.39

As you can clearly see when have you seen these RSI numbers in the middle / beginning of any major bull run.....probably NEVER.....

Nasdaq is the only index where it is fairly valued by can go substantially higher....remember strong bull market...RSI in High 80 is norm.....

All other index / indices are flashing BUY BUY BUY......

Those who are still not sure, BUY ETF of all of the above and leave it for next 10 years.....

Those who are daring and opportunistic play the rotation SOX & IWM are screaming buy...

SO...rotation is the idea of this market every 2 trading days, can go back and forth in many stocks.

Good luck with your analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed