When will it run out of gas???? I honestly have no idea, but I will say that this market is certaninly unreal. I am very thankful that I have been on the right side of it and benefitting along with other bulls. We are at all time highs, we had good job numbers (on the surface at least), and a possible reversal in bonds/interest rates (or at least the start of one). You would think it would be difficult to be bearish and yet I can understand why some are. The market has been so relentless that it’s hard to wrap your head around. Buy the dip continues to work and unfortunately for bears there hasn’t been much of one lately. I continue to hold some longs and see some great set-ups, but at the same time I would love if the market had a pullback so I could feel more comfortable getting aggressively long. I think it would be healthiest if we did pullback a bit, but I’m not going to predict anything, I’m just going to go with what is working. I do get more cautions though when it starts to look too easy. We are a tad overbought (but still could get more overbought) based on stocks above their 50-day MA. Recently we have worked that off through time and not price, but I won’t rule out either scenario. 
Here is SPY open interest for next week. Typically it does not go higher then those strikes with the high calls. I personally think it would be healthy and more bullish if it didn’t. 
Happy 4th of July to all and Good Luck next week! If you are looking for some great trade idea, real time option trades, open interest analysis and education check out a subscription. Check out the testimonials as well.
Higher and Higher and Higher
When will it run out of gas???? I honestly have no idea, but I will say that this market is certaninly unreal. I am very thankful that I have been on the right side of it and benefitting along with other bulls. We are at all time highs, we had good job numbers (on the surface at least), and a possible reversal in bonds/interest rates (or at least the start of one). You would think it would be difficult to be bearish and yet I can understand why some are. The market has been so relentless that it’s hard to wrap your head around. Buy the dip continues to work and unfortunately for bears there hasn’t been much of one lately. I continue to hold some longs and see some great set-ups, but at the same time I would love if the market had a pullback so I could feel more comfortable getting aggressively long. I think it would be healthiest if we did pullback a bit, but I’m not going to predict anything, I’m just going to go with what is working. I do get more cautions though when it starts to look too easy. We are a tad overbought (but still could get more overbought) based on stocks above their 50-day MA. Recently we have worked that off through time and not price, but I won’t rule out either scenario.
Here is SPY open interest for next week. Typically it does not go higher then those strikes with the high calls. I personally think it would be healthy and more bullish if it didn’t. 
Happy 4th of July to all and Good Luck next week! If you are looking for some great trade idea, real time option trades, open interest analysis and education check out a subscription. Check out the testimonials as well.
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