I have been hearing since, 1400 levels that S&P will crash but, today 1600 levels has been scaled effortlessly. While, I don’t have any belief in this rally but, the charts are saying nothing wrong about this rally as well. A very sustained rally with healthy corrections at each stage (except for the current rally). We will wait for the reversal signs whenever they emerge but, there is no need to short the market just because you/everyone else is in disbelief.
Cannot say the same about Nifty’s strength in the rallies … it is just doing jhampak jhapak –> for the uninitiated http://www.youtube.com/watch?v=k-tgKsyUMBU
Below is the S&P 500 Daily Chart, please point out what’s so wrong with this rally & why this disbelief?
