Here are the latest technical and sentiment indicators:
Technical Indicators (daily chart)
S&P 500 is above its 50-, 100-, and 200-day moving averages = Bullish
MACD (S&P 500; 19,39,9) is above the zero line = Bullish
MACD (S&P 500; 19,39,9) is above its signal line = Bullish
S&P 500 support @ 2159 (100-day moving average)
Sentiment Indicators
II survey: (Nov. 22) 55.9% Bulls; 21.6% Bears = Bearish
AAII survey: (Nov. 23): 49.9% Bulls; 22.1% Bears = Bearish
VIX: @ 12.34 = Bearish
RSI: (S&P 500) @ 70.69 = Bearish
Comment: The melt-up continues, bringing the indexes into extreme overbought territory. When stocks are in the euphoria stage, it’s too dangerous to chase higher, but too risky to short. Traders: Wait for cracks to appear and be ready to ride it lower (but take most profits quickly) Investors: Stay away from this 1999-type party. It will end in tears, as it always does, but no one can say when.