I've cashed in some ready to take advantage of any downswing, and still holding others so far, despite minor retraces. I cannot tell what will happen, but suspect the pressure is more on the upside than the down even though many charts are looking overbought.
One thing is that the volumes have been going up and today seemed to be very high volumes (such that I'm not even sure if the reported volumes are accurate). So maybe all those who have been buying since March are selling, anticipating a pullback, but even more are returning to the market because of all the hype that the market is bullish. So I'm trying to cover my bets and not lose too much in the process.
With the stocks I'm holding there are mixed signals in the charts - oversold by the RSI and more to run with the MACD.
The US volumes are falling so it could be there'll be a bigger drop there than here in Australia. For a change, the dow seems to be following rather than leading our market :)
Whatever happens in the next few days, the MACD on the monthly charts are totally bullish so hopefully any retrace will be minor or at least followed by further rises.
