All indications appear that the market, more specifically the Nasdaq, will continue to grind higher. I won’t try to predict all the daily moves, but I would not be surprised to see a tight trading range on Monday and possibly for the week as more money is invested into the big tech companies. Keying in on a tech fund ETF, I can see another 3-5% upside before a pullback. If this does occur, I would not be surprised to see a sharp one day sell off as stop-sell orders pile up and get taken out. However as fun as it to make projections, we let the market tell us what to do. The short term sentiment of the market is quite bullish, although not extended.
Based on major brokerage analysis, the US economy is currently in the mid-phase of the business cycle rather than the late stage. As far as a sector discussed above, technology companies typical expand from 4th quarter into the 2nd Quarter of the annual year. Both indicators point to further gains in the Nasdaq, tech funds, and tech company stock prices. The ride will not be smooth, but it is our intention is to catch the significant part of each run while remaining cash solvent as the sentiments tip into one direction (too far) or another.