Here is to my 1000th posting on SharePlanner. Enough of the celebratory stuff – time to talk about some more meaningful stuff, like how all the major indices are breaking out to yearly highs, including the Russell.
I’ve provided the charts below. It is also worth noting that we are extremely overbought, and I wouldn’t be surprised if we saw some profit taking as a result, however, that theory could be null and void with it being year-end and with the profits that have been made this year, Wall Street may be somewhat hesitant to book gains for tax purposes and instead carry it over into the new year.
Here are the charts…