"And, Nostradamus, shall lead them...."
With SPX and NDX closing at two sigma, and McClellan Oscillator readings of 168 and 94, we are a bit stretched. But there is huge bid to the market and I doubted this bid will wane till we go thru AAPL Earnings Report on Tuesday AH.
DJIA, having gone thru our 12,700 multi-month channel breakout target, is now poised to hunt down the current levels of +3 sigma (12,987) and 200 Day MA (13,093) confluence.
By the way, next Wednesday morning, Alexis Glick, the very cute & very smart anchor (a five sigma event by itself) for FOX Business Network has invited me to her "The Opening Bell" segment @ their NYC HQ, so there will be no mid-week commentary from me. Alexis, a former head of NYSE Floor Operations for Morgan Stanley & Co and a Columbia grad, is as smart as they come. We just linked her blog to to this blog.