an tSionna 1.14.10 A Different Look

A different look at the S&P 500.  This is a 2 month chart of the index.  It shows something that is beginning to nag at me a bit.  Specifically the S&P is up about 10% since the first of November.  Now what this chart doesn't show is that the Market flopped around for most of September and October before finally moving up.  But even so, this is still a pretty good move in a short period of time.  Most of our other trend indicators show that the current rally from November is still intact although we are somewhat overbought.  We'll let our indicators be our guide but this big move is something that I'll just tuck away and keep monitoring.  I think we'll begin to look at what defensive measures we might need to consider going forward and marry those to our client profiles.  Remember that stocks can correct by time as well as price so it could be when we finally stall out we do so by going nowhere for a certain period of time.

*Long ETFs related to the S&P 500 in certain client accounts.