Fundamentals looks kinda good, but there are some head winds that don't seem to go away.
Strong dollar, low , slow growth, pull back from dividends, low global growth... Companies seem to be at their peak with manufacturing good to help stock price stay the same.
All this does not look like its going to matter. It looks like we have a correction on the way, the patterns seem very similar to 2008, strong Oscillator pattern from Squeeze , and from Wave Trend Indicator a long period on the upper band of the wave, Ultimate MA turning red
Ultimate MA Indicator crossed and are now red for the month of January, if the pattern is confirmed for the next month there is a high probability of .
IF pattern is confirmed there are two possibilities if we use past as representation of the correction.
The Golden line is the 2000 tech bubble, close to a 1.5 year market correction.
The Bloody line is the 2008 sub prime correction, close to a 1 year correction.
Personally i believe we are closer to something more similar to 2000 correction. Central Banks and Other Gov entities seems to be pulling there self together to smooth the landing.
Waiting for Ultimate MA confirmation for short enter.
Wave Trend Indicator swinging cross the upper band to a lower trend, 2 month confirmation confirm, since march 2014 and still today.
Squeeze on release showing confirmation of momentum, also since march.
Wave Trend Indicator
Ultimate MA Indicator.