dow, daily
trans, daily
Summary
So..the market is going 'to da moon', fuelled by POMO money.
The fact the POMO is not scheduled to end until 'headline unemployment is at least <6.5%) is something that so few are giving the credence it deserves.
Of course, some might suggest POMO $ aren't really being used to buy equities, but then, I'd merely suggest they look at an index chart from autumn 2010.
How did that work out for the bears then?
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There really isn't much else to say...
back at 3pm,
*although I might add to this post between now and then.
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Trans, monthly - an astounding gain already this year
Transports 6k is imminent, and 7k really now looks viable later in the year. Hell, why not 10k?
After all, Bernanke is NOT going to stop printing, and by default, most asset classes will ramp accordingly. Congrats to the Fed! They win.
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UPDATE 1pm... So..minor intra-day pullback, but most indexes still green.
VIX +3% .almost.. but remains well within even initial breakout level. Even a jump to the 14s by Mon/Tuesday barely ranks as moderately higher.
It will likely be laughable later today, any majorly bearish posts appear. Even a retracement to 1440s does NOTHING to do the massively strong upward trend.