$SPY – the flying bull still flies but…

With the last stimulus signed (the tax cut), Santa heading home (his job done), and the general market in a slight, slow sideways slide (at a time it usually is rallying), the new year may be coming early this year.

Hate to be bearish while the bull market continues, so far, unabated, but it can’t go up forever and at this time it appears most everyone is believing it can. The wackiness that often appears at tops has begun (bitcoin and its cousins), stocks tripling on name changes… If AMZN or GOOGL or TSLA or even AAPL were to split the stock now and scream up on the “fundamental” of the split alone, I’d say we are in 1999. They haven’t split of course…but what the hell, we are in 1999 and I suspect 2000 is right around the corner.

That said, and maybe meaning nothing since the bull continues to fly, all three of my daily swing signal enter today on sells. One of these days this is going to matter and this flying bull could drop out of the sky (do bulls actually fly?).

However, long-term breadth remains on a buy. Which at worse means a falling bull will bounce before it dies.



PRICE: Sell. (Day 1).
VOLATILITY: Sell, (Day 1).


SPY CLOSE – 267.57
QQQ CLOSE – 157.37
CNN MONEY’S FEAR AND GREED INDEX: (66, falling, greed level).
NIFTY-50 STOCK LIST: 16 Buys; 9 Overbought, 3 Oversold, 2 new buys today, 8 new sells.

(click on the chart for a larger view)

Leave a Reply