Randy, I like your courtroom analogy you frequently use when making your official trades. You never have an opinion that lacks a solid base of technical evidence. Unfortunately the market is currently O.J. Simpson.

Logically, it won’t “feel bearish” until the market is falling. Waiting until it “feels bearish” to short or “feels bullish” to go long is what the masses have always done, hence the reason that sentiment indicators often market significant tops & bottoms when at bullish & bearish extremes. Although I’ve moved a lot of my focus away from trying to guess the next near-term move in the broad markets, the bearish case is still very much intact IMO. While the intermediate-term trend is certainly bullish, many long-term trend indicators remain bearish & so far QQQ has yet to take out (move back above) that Dec 31/Jan 4th gap & you have several major indexes such as the SPY & IWM that are challenging key downtrend lines off their 2015 highs. Maybe they take out all of those levels & if so, that will certainly dampen the bearish case but until & unless then, this market will continue to “feel bullish” since that is the near-term/intermediate-term trend. JMHO.

Meant to say “poor Paul”…

Pure Paul been trying to short this for over a month now thinking the market just had to tank but it only keeps going higher as every little dip is bought up. If that is not a bullish market I don’t know what is.

I have been saying for some time this was going to all time highs because of the Fed. The market has no fear of interest rate hikes this year (will they even raise one more time?) so institutions know it is still “safe” to put new money to work here.