… but at this point, I do believe the coming correction will be a buying opportunity. The only thing that could change my mind is multiple high volume selling days based on deteriorating macroeconomic news. Right now I think the market has displayed enough of a bullish character to give this rally the benefit of the doubt.
We are at a point based on the percent of stocks above their 50 day moving averages that all but guarantee a correction, albeit likely to be a shallow one. Opening new longs right now after 6 weeks of gains is really pushing your luck.