Potential Pullback In the Short-Term?
Here's some food for the fodder - S&P creeps outside of the upper Bollinger Band, and typically when that happens we see a pullback in the short-term. So is today's rally into unfamiliar territory a sign that we may be over extended in the very-near-term? I'm not sure, but I did hedge my portfolio, thereby reducing my long exposure from 80% down to 25%. I would love to see a pullback in the near term - which could be no more than 1-2%, and would allow me to buy some stocks on the cheap.
Here's the chart analysis on the S&P.