With the S&P500 still creeping higher , maybe we will finish higher for the 6th week on a row, I am at the moment still on the sidelines with the kind of approach of wait and see.
The main reason, even with earnings coming better then expected for now on 2:1 ratio I honestly cannot see the fundamentals supporting this rally, but there we go ,the markets are not rational !
More and more at all levels I see and ear reasons for this market to go down, but it still keep goig higher, so I wonder who or what is supporting this rally, on of the most compelling arguments I heard (zerohedge) has been the big quant funds have been "catch" is some bad shorts positions so they been "hedging" against it, which it makes sense in a lot of ways and support the fact of the market been inching higher at relative low levels.
I truly believe we are getting ripe for a violent reversal to the downside, where I am just waiting for, or to get to 874 level or return back to under 841 level to jump on the waagon of the shorts...
Just some tought's
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