The QQQQ is up 7.30% and SPY is up 5.85% in 2011.The model in NASDAQ is up 26 weeks in a row wow! That is an awesome move. In the next morning are the economic numbers and expiration. By 10EST Friday after Philly Fed we should know if we are going to go to 1343 and 1355. If we do, then we unwind next week. I will be very light by Thursdays Close.
The market is acting great, yet if an inflection point is about to come it would about in this time frame. In June everyone thought I was nuts for saying the economy is better and market is fine. All we have right now is perhaps a short term top. You can't find a BEAR anywhere. Transports sure act well. Will they act so well if oil takes off to the up side? There is a very good chance we get to 1343 in the am.
By this point we will be very over bought short term.
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