With today’s fresh new-highs participation, and assuming we get some level of momentum follow-through this week, it’s easy to imagine the McClellan going for a second (ultimately false) run higher as in early November after this extended up move.
Here is a graphical representation from last weekend’s ETF Rewind nightly newsletter:
Yes, I am an intermediate-term bull here… again, it’s to watch. Hey, option protection is cheap here, right?
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