10am update - the bullish hysteria is very amusing

US equities open sharply higher, as there is a veritable abundance of bullish hysteria. We have the Cramer on clown finance TV touting 'a global QE initiative within 72 hours'. Yeah... more printing will resolve the Oil over-supply issue, right? Even lower rates will resolve the underlying macro economic problems, yes?


sp'daily5

VIX'daily3

Summary

*PMI manu' 52.7.. a little better than expected, but this is nothing for the econ-bulls to be pleased about.
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With equities making a play for a weekly close above the sp'1900 threshold, not surprisingly, the hysteria on clown finance TV is pretty wild this morning.

There is talk of AAPL going straight to $150. After all, the recent low of $93 is a key mid term low, yes? Crazy day.. and its only 10am.

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notable weakness...

GE, daily

Earnings miss, with GE being hit by lower orders from the Oil/gas industry. Energy sector capitulation has not happened yet... and GE looks headed for the 22/19 zone by early summer.
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time to shop... back soon