OUT FOR A RIDE

I will be leaving a bit early for the first bike ride of the year. No, it doesn't look like that in Chappaqua or on my bike route but it is a nice picture. I was hoping the rooster(Cramer) would come out and say the market looks great and get my official sell signal but no such luck yet.

The SPY is now ripping up near 131, which has been the top of the trading range for weeks. The SPY 2 day RSI is back to 93 plus and the VIX is down to 11.55, near the low end of the range and about 5% below its 10 day SMA. The rule book says the market rarely makes northerly progress when the VIX is stretched more than 5% below its 10 day SMA so I continue to sell.

Then again the book said that the DJIA doesn't go up more than 150 in a day or the SPX up more than 15. They are now +200 and 23 respectively. BULLS BEARS and PIGS?