Am I Crazy?

After having many stocks lose 20% or more in the recent weeks, and the DJIA loss slightly more than 546 points in 6 days, am I crazy to say the DJIA could be getting ready to make another attempt to close with a new all time high. Absolutely not, but of course I could be wrong. However, I will not be surprise to hear others echoing what I just said after they have start noticing what I will present to support my hypothesis.

Still On Course

The SP500 made another new all time closing high today. Although it made this historical record high all by itself, but the DJ Industrials only less than 50 points away from its all time closing high. The Nasdaq 100 and the Russell 2000 participated in today’s market rally, but their current level is still some distance from their previous high. The market breadth is mixed. Therefore, until we see the DJIA makes a new all time high, the market still on course to where it is destine to be, wherever that maybe. In the meantime, be selective and defensive, and don’t extend yourself too far away from the chair. You do not want to be the one standing when the music stops.