Market at All Time High! Party?

Well, I am not so sure. SPX today did print an all time closing high. That is significant and we have every reason to celebrate.

Bingo! That's a fact right there! So? What's the problem. Well, I hate to be a party pooper but here are the things I don't like:

1. This bull market is getting awfully long (not a argument for selling, it can go higher!)
2. Fundamental remain weak (we are burning stimulus money, for how long?)
3. Where is the volume? (this maybe the best argument)
4. Nasdaq, which was leading the rally is not at the high (well, it might get there soon?)
5. Market rallied from March lows too high too fast without much fundamentals (no big deal, happens all the time!)

Here is Nasdaq, which is not at the ATH!

As you can see, I countered most of my five arguments there! Except the volume (that is undeniable). This is making me nervous opening a new position to the long side. I still tend to keep my positions small and mostly still fading the trades intraday. But I must say, it is getting difficult, so I might choose to stay out of the market until I get a few trending days in a row with sloping VWAP, whichever direction it might be.

What's up with BTC?

Hey! What can I say, the chart looks parabolic! Looking just like end of the in 2017! We used to rally 1000 point every week around thanksgiving and beyond. Watch out for that $20000 level, that is all I am saying. When we make the same mistake over and over again, it is called insanity!

That is a weekly chart above for BTC. That dashed green line in $20,000 level. We should get there before Christmas, eh?

Disclaimer: This is NOT professional advice, this is all just my own opinion and experience. I am NOT a Certified Financial Adviser. Consult professionals for any financial, accounting or legal related questions you have.

Charts are created in Tradingview.com, which is a free service.

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