Probably a good time to take some profits if you're well up. But just think about it - the Dow is still above 11,000, how amazing is that! But if we do get a pullback then it wouldn't be unreasonable to expect to see it head back to the 10,000 mark, irrespective of one might believe. From a charting perspective the volumes have been large on the red days, so maybe we're due for some kind of volatility to sought out where we stand. I believe there's a lot of scepticism with the markets, and that the economies are rebounding on hot air pumped with stupidly low interest rates and stimulus packages. Pundits know that eventually reality will surface like a pimple on a beauty pageant's pretty face. What will the markets do if interest rates are raised sooner than expected?
As always it's a tough call, and maybe too soon to call for a correction. No one can accurately say if it will be or not. I thought the correction in January was real. Hopefully we won't see a head and shoulders pattern evolve during the roller coaster ride starting from January's correction.
