Traders are Afraid of Missing Out..

The market continues it stretch of valuations, unhealthy stocks with unhealthy patterns are being bought because the leaders are getting too expensive. This provides an illusion of a broadening market.

April 19 was the bottom of this trading bounce and could provide clues at what to buy when the Bull Market starts. However, the market in my opinion is on shaky ground, the simple flip chart downside objective on the S&P is 4581 at the moment.