It is a typical beginning of a euphoric rally that given more time - will roll over as far as big caps are concerned and fill in with higher (on a percentage basis) run up on the small caps.

Of course it can be different - but what we want to look for is breadth improvement and mid caps rotate - when small caps are the only thing going up it'll be time to unload - a bit early.

So far breezes chart that shows this 4th wave was a rare running flat and we are now early into a new impulsive 5 up seems to have a power all of its own.

I think going short to play the swings is far too dangerous in a fast market.

All surprises are to the up side.

What takes discipline is to have ice in your veins and watch the run up.

No need for new positions - just let your winners run!