In the large cap, the SP500 closed with a new all time closing high at 2117.69 on Friday along with the NYSE Composite. The NYA closed with a new all time closing high at 11,192.92, just about 1.5 points above previous closing high that was made in the prior session.
The indices that did not tagged or closed with a new high are the DJIA, DJT and the Russell 2000, but they all closed positive for the week.
Although the market might seem extended to the upside and look a bit tire, the market breadth still indicating higher level for the market.
(click on the chart to enlarge)
Whether there will be a minor correction before another round of new high for the market or an undisrupted continuation of the current upward move from the market is anyone’s guess. The market message is new high is yet to come, but it never tell us when and how it will get there. Therefore, we always need to be on the defensive and continue to listen to the market as it speaks, and ignore the naysayers and the talking heads.
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