Another somewhat quiet day in the US markets. Yet the bulls can tout another higher high. With dollar weakness, and the VIX closing in the 12s, this market is fearless..and frankly..disturbingly bullish.
Primary trend remains UP. Its that simple.
The bears...are simply powerless.
I just can't see how we'll get any 'significant' pull back - greater than 2-3% in the short term, whilst the POMO program continues.
I refer anyone to the daily index charts from Aug'2010 to May'2011.
That trading period remains one of the most nightmarish, and yet..so few seem to be highlighting it. Have the bears forgotton so easily?
Bit and pieces across the evening.