ANY PULLBACK, FOLKS? NO, 6th DAY RALLY IN ROW

Yes, positive winning streak is in the 6th day up in row by now. US Equity markets were on 6th gaining day on Tuesday. The leading sectors like Biotech is performing well again and made the biggest two days gain in the last 30 months. The Nasdaq Biotechnology index is up with +3.23%.

The all-time high is in sight and as we forecasted last ago it needs to hit that area within few days and will go further to new highs. The whole April is so green for all US indices. There are many warns by analysts and traders but that is a good sign, because there is still huge buying side potentials out there. Who is crying now, later will be a buyer for sure.

The typical concerns are the bubble, the volume, USDJPY carry divergence, VIX divergence, etc. Forget that complains. Just look at the SP500 chart. It tells more than thousand words. Easily the index took out the 1.872 key resistance level and now heading up to 1.890. This last six days rally is the longest one in the last six months, it is nice isn’t it. The SP500 is up 30 points YTD that is about 1.6%. Does the bearish market really look like this?

The BFM Assets Team.