Day Of The Deals

Yesterday turned out to be another solid day in the market as a slew of takeover deals, along with continued confidence in the economy, provided the firepower to push the major indexes higher.

Even political turmoil in Egypt appeared to ease, which temporarily alleviated fears of more uncertainty.

While the markets did not end up closing at their highs, which was a bit of a negative, we have now reached some very lofty levels. The Nasdaq, for example, is now within striking distance of taking out its 2007 peak of 2,859; the point from which a pullback occurred, which subsequently turned into the 2008 crash.

If you have more investable funds to deploy, I suggest you move down on M-Index rankings in order to avoid too much volatility when the inevitable correction occurs. I have no idea when that will be, but at these levels, the economy better perform as anticipated, with no major disappointments, or this run up could be over in a hurry.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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