It Makes Little Sense Going too Heavy Here
Thursday was the pause day, Friday was the rally today. In bull markets, Monday would be the follow-through day and it was very good.
The market is now slightly overbought and due for a pause but the behavior for the past three days has been constructive. There is a lot of money that was moved out of the market the past month for no good reason. Good earnings and signs that the economy is not quite as slow as originally believed could see that money return. With so many stocks under their 200 day and the indexes bouncing around the 200 day, it makes little sense going too heavy here. Wait for the next pullback and we’ll trade it accordingly.