Sometimes it only looks comfortable
June 9,2014 I see a lot of trading set ups in the markets lately, various sectors too, but am I comfortable taking them? MAYBE as trades, but please be careful and don't get TOO comfortable. Like the Hammock above, These markets may look comfortable place to jump up on & rest (as they rise day after day) , but they are getting extended- and even nice set ups could fall through if a sell off starts. I am expecting a sell off (Not sure how much) sooner than later.
I TWEETED these charts last week , thinking that we would get a pullback, but they paused or dipped for 2 days and UP UP UP they went .
Now they are again overextended...