The 10 year yield is in a clear uptrend. This is important to keep an eye on, because a wise man once said: "Interest rates are like gravity for stocks...." If interest rates continue higher, then the stock market could run into some trouble....
The S&P 500 closed at its highest level ever! How high will it go? Nobody really knows. The strategy that's worked for me is to buy when others are despondently selling, & sell when others are avidly buying.
Lumber futures have a monthly RSI above 70. This is only the 5th time that this has happened in the last 34 years. Although prices can still further increase in the short term, longer term some type of consolidation is due.
The optimal time to be purchasing shares was in March 2020, but a break above $24.70 could set up for a move to the $40-60 area. Talk of infrastructure spending could keep a nice bid under this steel stock over the next 6-12 months.
The VIX is sitting in a zone where its stayed bid for the last 9 months. What happens here will be important. Given the time of the year, my thinking is that it could potentially continue lower from here.
$GME Gamestop has gone from near all time lows to new all time highs in 1 year.... My experience tells me that this will not end well for market participants who are purchasing shares at these elevated prices.