We have to respect the trend and the trend is up for sure. However, my concern over this rally is still with the internals that are not strengthening to support price. In fact, buying volume minus selling volume declined again today, along with market breadth. While we cannot trade and invest on feelings, today’s move in the Indices almost feels like a “melt-up” scenario. That is yet to be seen, but certainly it is a time to manage risk appropriately.
