The market is running higher hour after hour with little retracements. The last two days it was hard to buy small caps because the keeps printing larger prices. I can’t get them to V-WAP on the close. There are much more aggressive players accumulating and paying more than what my models consider fair. There is a risk of the market going faster than expected specially, giving the holidays this week.
I don’t consider appropriate to jump the gun to join this wave. The volume today was 18% higher than last 2 days which is significant considering the short week. Why does so many people want to own shares over the long weekend?
The VIX and VXX keep printing lower prices and GOLD is still in the top to this short tight sideway market.
SPY is again testing the top side of the trend line with significant room for a correction.
VIX à VXX