The Fib extension going to 2305 will be tested most likely tomorrow. Will be interesting to what happens after it is reached.
All metrics show the market is highly overvalued. However, the continued momentum is keeping the market afoot. The VIX is at the lowest since 2007. Play this carefully.
If we break higher, who knows where we will go.
If we meet resistance, which is what I expected, I think a retrace to 2,200 is appropriate over the next few weeks.
All metrics show the market is highly overvalued. However, the continued momentum is keeping the market afoot. The VIX is at the lowest since 2007. Play this carefully.
If we break higher, who knows where we will go.
If we meet resistance, which is what I expected, I think a retrace to 2,200 is appropriate over the next few weeks.