No doubt, SP500 index is very bullish on all time frames. But there's another question: does it worth buying or holding stocks now? If I look deeper into the Daily chart, I have doubts.
- Ichimoku is bullish - Heikin-Ashi candles are bullish, but haDelta+ and haOscillator give worning siognal regarding momentum - MACD has built quite a relevant negative divergence and despite cross up it doesn't seem too Strong. - EWO is naturally bullish, but also shows some negative divergence
Note: my relative value all weather model also suggests to weight down Equities and increase Gold and cash exposure.
For me right now this market is not so attractive, longs have less and less upside, while the time for shorts is not yet here.