It doesn't get much better than this. A low volume rally with little volatility. Three days in a row. Not even a disappointing new home sales number could derail this market and a weaker dollar helped push stocks back into the green after some inital (and brief) selling pressure. News doesn't seem to matter at this point and that makes me cautious given sentiment and complacency coupled with a lower VIX reading. But it is what it is and there's no telling how far it may go.
If this was normal market trading I'd be much more concerned after looking at the Seven Sentinels today. Yes we're breaking out, but the big money doesn't seem to be playing right now. And some of those signals are getting further extended to the upside. But it's still on a buy and that's what matters most.
Here's the charts:
We're pushing higher on all these charts, but it doesn't take an expert to see we're well above the average reading as measured over the last few months.
TRIN is flashing a sell here while the other two signals remain on a buy.
Minor changes among our Top 25%. The S fund picked up a bit and bonds dipped.
So the Seven Sentinels remains on a buy and seasonality seems to be cooperating. Might as well enjoy the ride. See you tomorrow.
If this was normal market trading I'd be much more concerned after looking at the Seven Sentinels today. Yes we're breaking out, but the big money doesn't seem to be playing right now. And some of those signals are getting further extended to the upside. But it's still on a buy and that's what matters most.
Here's the charts:
We're pushing higher on all these charts, but it doesn't take an expert to see we're well above the average reading as measured over the last few months.
TRIN is flashing a sell here while the other two signals remain on a buy.
Minor changes among our Top 25%. The S fund picked up a bit and bonds dipped.
So the Seven Sentinels remains on a buy and seasonality seems to be cooperating. Might as well enjoy the ride. See you tomorrow.
