1. This market continues to grind higher with tiny pull backs making it difficult for buy the buy the dip traders to even get a good dip to buy.

  2. Volatility is very low making it difficult for option sellers to collect enough premium to make it worth their risk while options stay so cheap. Even intra-day volatility was very minimal as $SPY closed almost where it opened Thursday and Friday.

  3. The Energy sector $XLE ETF has gone parabolic leaving even the 5 day ema far behind and aiming at the very rare 90 RSI.

  4. Many sector ETFs are at or near all times $XLU $XLP and $XLE  very bullish environment for equities still with little warning signs of a correction anytime soon.

  5. Headline risk on the table as the Iraq situation gets worse with little signs of any U.S. intervention coming, this will keep the $USO bulls holding long.

  6. Precious metals $GLD and $SLV exploding to upside Thursday may be a sign of inflation concerns  down the road.

  7. Elon Musk mania has kicked back in gear with $TSLA & $SCTY exploding back up last week.

  8. $SPY broke out and trended from a March through May trading range, currently the old $189.50ish resistance of that range is lining up with the 50 day sma, the confluence of two key support areas signalling, I would be an aggressive buyer their if I am given the chance in coming weeks.

  9. While it is difficult to chase at these lofty levels, buying pullbacks on your favorite stock at key support levels like the 5 day ema or 10 day sma could be the best entry plan.

  10. Since the break out in $SPY most  swing trading models have only been working from the buy weakness side not short strength this is a sign of a strong trending market.

 

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