Well seem like 666 (665.75 to be exact) was the bottom of this market for the bulls while the bears say we have rallied over 20% and that's not surprising in a bear market rally, so what do we do now.
To me nothing has fundamentally changed in the market just the FED and government printing more money and essentially setting the debt up for our children to pay. The banks are now seen as bargains even though the best analyst on the street Whitney says they will see a worse year this year and believe me I am on her side but we must remember just like how we remained oversold for a long time we can get overbought too.
The negative here is the time we have shot up so fast, if you aren't a trader and didn't have the stomach to be long last week you made zero from this rally. I bet you no one did!!! Hard to say what we do here but more than likely they try and hold a positive stand till this friday's options expiration and then next week the true story will be written.
If I was a gambling made I would be shorting here with two fist but since I am not I will wait for confirmation and a break of the last swing high on the downside. Bonds look sweet for a short but I am not touching it till the dust has settled. The metals should be in a zone as the dollar get whack because of this FED move. We will soon be carrying $100 bills like how we carry $20s just watch and see, might be a few years from now but it will happen.
The next bubble is just about to start here folks, I spoke about it last month, happening plain as day.
MARKETJEDI
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