All time highs are in fashion. SPX heading to its own All Time High
Bulls in control of the market.
Markets have got some new bulls because all headlines are pointing to "Stocks Are King". The trend is firmly bullish but there are ample signs of caution. Markets have been on bullish front foot after DowJones hit its all time high however it is a bit of Bah, Humbug. Death of Hugo Chavez is also a non event for the markets. Who needs to mourn a socialist when DowJones is on all time high however the speed with which Telegraph came out with this obituary it seems they had been writing it whole day waiting for the "publish" button.
Today I would expect 1539-1536 as area of support leading to a move up to 1546-1550.
In my hypothetical stock portfolio I am looking to balance the short position with some new longs at good levels.
