Closing Brief - another day of melt

Another day higher, but then...why would it end? We're now 109 pts higher than the Dec'31st low - a mere 20 trading days ago. There is no sign of a turn..and the much sought retracement remains just that....sought, but missing.

The hourly charts are bizarrely simple. What more is needed other than two straight upward sloping channel lines?


Dow'60min

sp'60min

Trans'60min

Summary

The algo-bot melt continues..and we're already now brushing up against what was the Feb/March target zone of 1510/20.

It has to be said, we ARE in the twilight zone of a new market era.

It needs to be considered..that this could continue...for some years to come.
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*AMZN earnings...lousy.  Q4 EPS 21 cents. The market was seeking 28 cents.
 
They still can't muster a decent profit..not even mediocre. Stock is -5%..which frankly is nothing of any significance. It remains over-valued by 90%, but hey..its the new era of stock valuations.