Monday, October 12, 2015

Too far too fast

{ckick to clarify}

By my measures of historical momentum the market, since the recent low has gone up too far too fast. I am not saying the market can't keep going up after a pause here.  I will stay with it until I am cued for a short play.

Today's close is 9 tenths of one percent from the point at which many wished they had exited the market.  Are things good enough for the market to go back to the all time high and above?  Are things bad enough for the market to go back to the all time high and above?

To get back to the all time high of about 2130 the S&P has to rise 5.6%.  I guess that is just too much money to leave on the table to get out now.

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