3pm update - bullish hillarity

Today's price action has to be seen as utterly hillarious from the bullish perspective. There is no real news out there, it is merely the underlying strength being seen today. With the market now taking out the recent highs, normal service has indeed resumed


sp'daily5

Summary

What is there to say, other than congratulations to all those dip buyers!

Its worked since spring 2009, and its STILL working.
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What remains laughable is the notion that it will end, whilst the Fed is throwing 45bn to the primary dealers each month, and whilst those HFT algo-bots remain plugged in.

Until those two issues change..the primary trend will remain the same.

It really IS that simple.
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Or you could still believe in the 'wedge of doom'.