Sunday Funday - Don't get complacent!

We are getting into altitude where it is getting harder to climb

I frequently share balance area setups regardless if they are bullish or bearish. Just happens to be more bullish setups exist these days.

You know this via my daily podcast where I rattle off new highs vs new lows, what was strong vs weak.

I do want to point out on a macro forest level we are getting to an altitude of escape velocity where we punch through the earths atmosphere and into space.

The problem is we are all passengers in a Boeing 737 Max holding on for dear life. This bird isn’t built for space travel.

While the markets broadly are overbought, they can remain so as long as:

• the 10 yr yield stays under 4.5%

• NVDA and the Magnificent 7 stay in flight above their 50 day moving averages

• Breadth continued to expand in favor of New Highs

• And no black swans appear

I present to you some signs of caution.

You can also refer back to my Feb 12 post: