My bullish article, republished by Seeking Alpha here, has been met with a lot of unbelieving comments. Which just makes my argument even stronger: this market is driven by sentiment, and mostly bearish sentiment just makes current rally stronger.
There was a hint of changing sentiment last week, but pullback on Wednesday and Thursday killed it off. I'm almost certain now that this rally is going to continue until current quarter ends. There are a lot of hedge funds which were mostly in cash or short the market, which need to show good performance for the quarter. They will get into window dressing mode, just to show that they own stocks which were up good for the quarter.
Until then, it's buy, buy, buy. I'm usually buying on a good pullback, but this time is different. Sideways action is as good buying time as a pullback. And I'm sticking to my favorites: tech, banks and debt. They worked this quarter, they will work through June.
Comes July, things will be different. Maybe sentiment is going to change or maybe we'll see buying panic. In either case, I'm taking profits.