Good morning. Futures are set to open moderately higher, sp +6pts to 1906, with new historic highs for the Dow, SP, and Transports,. The R2K and Nasdaq are set to solidify their recovery rallies. Metals are weak, Gold -$10. VIX will likely open in the 10s.
*without getting lost in the minor noise...upper bol' on the weekly will likely jump to 1915 or so at the open. Certainly, 1920s will be viable within a day or so.
Perhaps a retrace/back test to 1900 later this week. Regardless, broader trend remains bullish, and May is set to close in favour of the bulls.
Update from Mr Permabull
Oscar has again stepped right off into the land of delusion, not for his latest trading call (which I agree with) but in his jubilant attitude towards adjustable rate, and interest only mortgages.
Whether you like him or not - and I realise many do NOT, Oscar is not an idiot. Yet...here we are..with a 'smart trader'..who has completely learnt NOTHING from everything that happened pre 2008. I'm almost surprised he didn't come on out and start touting 'liar loans' as a good thing for the financial stocks.
As for me today...well, I ain't getting involved. Tired of things. Tired of everything.