OK, indeed the bull is blessed that any weakness was being bought. Is the 2009 mad cow back? Well, we’ll know perhaps before the end of this week, as a few breadth signals are very very overbought now, so if indeed the mad cow is back then the market will simply ignores all those signals and therefore we won’t see any meaningful pullbacks in the coming days.
I’m a little bit bearish toward tomorrow because the NYADV is way too high which leads to a red day the next day 15 out of 25 times (60%) recently.
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