Going Higher

There is not much new for me to say about the market’s behavior. The tune has not changed; it is still singing, “Going higher.” There is no logic to this extended rally. The market is acting out base on sentiments and technical. The market is simply pushing aside all the fundamentals and leaving them to be dealt with later. Therefore, unless you are willing to go long, then the next best thing is to do nothing. All these short quick pullbacks are frustrating and agonizing for the bears. The talking heads are warning us about how bad the month of September has been historically. But be reminded the market rarely does what the herd expects it to do. So do not be surprise this September could turn out to be not such a bad month everyone is expecting it to be. We just need to pay attention to what the market does, and let it lead us rather than for us to anticipate what it might do.

Since there is nothing new for me to say, I just let the charts do the talking. Here are the updated charts.