Spending a couple of hours reviewing chart of S&P 500, my impression is that buy set up still way outnumbered sell set up, some previous negative patterns turned positive in a blink. Which means money still keeping coming in, see the chart of SCHW, TROW.
The leading sector is retailer, REIT, homebuilder, hottel resort, financial transport, well, yesterday once more, huh? A service economy based on asset price and credit expansion come back to life?? that is market would tell you every time wave 2 rebound at the end stage.
As long as money keep flowing in, the price will go up. those homebuilders, REIT, Retailers can't collapse in one day. On the contrary, I would like to buy a pullback, betting this wave 2 rally have at least one more up leg to go. But after this, I am fully expecting market is going south in a hurry and break below 666 low.
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