The market climbed broadly higher, although the two leaders - Transports and Rus'2000 are looking tired, and closed roughly flat. The cheer leaders on clown finance TV remain ever more excited that the Dow' is now just 46pts shy of the psy level of 14000. Isn't that just great?
What to say, other than 'I remain tired of this sick and nasty market'.
But then, the Transports gave the very clear warning in mid-December, and hell, even I bailed on Dec'31st..but have re-shorted from what is now a very long way down. Burnt..again. Urghh.
It remains a fiercely bullish market
More than anything, you can see the accelerated trends on the Dow/SP - which followed the acceleration seen in the Trans/Rus'2000. The Nasdaq (not shown) remains a laggard, but then that is clawing higher.
What is clear, there is NO sign of any turn or levelling phase.
It remains the case the bulls could sustain a wave lower all the way down to the sp'1460/50 area, and it'd do ZERO damage to the current strong upward trend.
Anyone who seriously thinks there is a chance we'll be trading <sp'1400 this quarter, should just set fire to their money..and save themselves some time.
A little more later.