A diary of the thought process behind my investment decisions
Today is the first day that investors are embracing the market. The breakout above the 200 day moving average will likely accelerate the process. While this is a necessary step in forming a top it is a process that could take some time. I suspect the rally will last at least until expiration. However, the turn of the month and quarter end are coming up so I would not be surprised to see a rally last through July 4 weekend. The caveat is that the economy is unbalanced and negative surprises are more likely to occur under these conditions.