It's been THIRTY weeks since naz has put in the low of Oct. Previous rallies never lasted that long.
We might go lower and we might end up in a range, even going as low as the previous lows, but charts look too good to just see a big fat collapse to new lows, meanwhile............. shorts keep calling tops and reshorting up higher, trying to catch THE high. They haven't made any money this year, being stubborn. Not selling is probably enough to shift supply/demand to the demand side which isn't what the shorts need. They can only make money if the funds begin to sell. Now that there are improved fund flows, there isn't much reason to sell, especially when they know short interest is high.
Sure, some stocks are overvalued, but the shorts are the ones making them float up there. If they expended as much energy trying to find something of value last year and buying it, they'd be in a lot better shape than they are in now, which is hoping to get back to even.
Zeev is right about the reduced volume here though. Lots of stocks have been rising on lower volume.
TA
News 
Market Data 
Discover 
AI
