More all-time highs
I shouldn’t be upset (and I’m really not as the portfolio continues to make new YTD highs)
But technically, it is extremely frustrating to see nothing more than slow grind higher after slwo grind higher on the indexes – and also see blowout moves on individual stocks (ORCL, GOOGL, AVGO for example)
Rising Wedge still hasn’t rolled over, resistance at 6500 hasn’t been a wall yet
50 Day Moving Average is now over 90 bars from price. I could see price action melting up
into a crescendo or peak pre, during, or post FOMC and then fading lower after to find
some technical levels I’ve been eyeing for weeks
Enjoy the melt-up, just be ready for some action and volatility in the indexes, gold, silver,
bitcoin, and the bond/yield markets
I won’t complain about YTD highs, but it’s the caution ahead that I don’t want to be
surprised by in the coming weeks
Plan accordingly – I’ll continue to grind through it the best and safest way I know how
Thanks for watching!!!
