Not much to say, but wait
Long term view is bullish as long as stocks are making new highs. We haven't seen new lows for a while.
Long term bullish view can be changed into bearish if we see new lows in a future, but there are only few stocks near their 52-week lows. Averagely Dax stocks have risen 46.41% from their lowest levels. Averagely stocks are -15.16% from their highest points. There are 15 stocks less than -7% from their highs.
Blue chips have been leading the latest advance in stocks. Technology and small caps have been lagging.
So far investors have pushed all the Dax stocks above their 50 day moving averages. This kind of condition hasn't been very common in the history.
Oversold condition is literally at zero, even the overbought condition has loosened a bit.
McClellan Summation Index again started to point higher levels after temporary decline.
Dax Volume Index has been lagging during the whole rally, which indicates investors haven't totally been interested to participate.
Global stock market looks clearly that US has been leading the rally up. Nasdaq and S&P500 are already on the positive track annually while others are lagging. We can at least conclude that FED programs are doing well.
I have been calling a top many times lately, and now I cannot do anything but wait. There are few options how the overbought condition usually fades away: condsolidation, small pullback, correction.
