Its been a long time since we saw the sp'1500s. Meanwhile, the Transports is showing continued strength..and its in an accelerated stage. A blow-off top, or just relentless ramp - fuelled by POMO money...for years to come? VIX is holding fractional gains.
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Trans, daily
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Summary
Still no sign of the indexes levelling out, quite the contrary in fact..as the Transports shows. The big 6k level is now easily within range.
To my own surprise, I still don't see many out there suggesting sp'1700s - with Trans @ 7k by year end.
The 'Bernanke bux',...are fuelling much of this..and it is scheduled to NEVER end.
Its probably time to get the Birinyi ruler out.