Been sick with my sinuses so I haven't been up to posting much in the last week. I am still in the high mode and think we can still make new highs. It is evident the market is in a trading range at the high area and since pullbacks have been swallow it is therefore in my opinion we will trend a bit higher.
Now Ii have been asked about when do I think the market will be a deep pullback, well that question might be difficult to answer since we are well over the 50ma but I will be looking for a top when I see the general public start saying they are going back into stocks. Yes usually the 90% of players are wrong so when the masses are all long then it is time to be extremely cautious.
In the mean time we just start earnings season so the next 2-3 weeks should be neutral to bullish providing we don't have a diasterous earnings from a heavy weight.
Still Biotechs are on fire!!!
Tuesday, April 9, 2013
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