Wow. In the last Total market view I thought ball in bull's court and positioning for bullish resolution would be the better move. Yesterday, after seeing the 3rd highest ISEE reading this decade, opted for safe haven GLD instead of adding leveraged longs. Oh well. But at least recent purchases a lot of the right moves - first XLF 6/28, INDA 7/5, QQQ & SMH 7/7 and most recently EEM 7/10 (shifting from IWM). XLF a little laggy but the others are delivering!

Stock indexes are popping and daily charts have a ways to go before becoming overbought. Watching for high tests but otherwise long and strong. But now, should I add further leverage after the move? Near the open would have been a consideration for some, but don't like it on close.

Holding GLD but with breakeven stop. This is really 80% net long if counting GLD as a hedge. Almost any index would have been better, but at least not a loss.

Now we can focus attention on where the top is and what would be a good way to lock in gains or hedge. Given daily candle on IWM that might be a short but holding off. Probably more risk assets should reach levels before a high. Also, though ISEE was ridiculous yesterday, other measures are not there. Still, high ISEE readings have been near several key highs. Playing this game means there is not really a time we can not pay attention.

SPY, INDA, EEM and IWM below.