We're above the 200 day moving average for 3 days, a good sign. But the market is overbought. It looks like we're trading on a dovish Fed and progress on the China trade talks, and ignoring weak economic fundamentals. Housing is slow, factory orders weak, retail sales are light, consumer confidence has been shaken (but rebounded last month, a bit), and the analysts have revised first quarter earnings to a slight decrease vs. the year prior quarter although that won't really get into the market until April 10th and beyond. Seems to me the market is focused on the wrong thing, although the market doesn't ask me what it is supposed to focus on... I'm cautious.
Edited by Rich C, 15 February 2019 - 09:39 PM.