Closing Brief

A very contrasting day to Monday. Despite an apparent lack of 'excuses', the market has exceeded the recent index highs. All those seeking some degree of retracement lower are right back to the starting line again. There is still no power on the bearish side.


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sp'60

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Summary

It will be particularly interesting to trawl the financial news/blogs this evening. Yesterday we saw a fair bit of bearish hysteria - after what were just 'moderate' declines of barely 1%.

As has been the case since mid January, even a retracement down to the 1450s will do absolutely no damage to the mid..or long term bullish trends.
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I will merely note that I find it strange so few are extrapolating forward.

5% gains per month..that's sp'2000 by end 2013.

After all, whats hard about that to at least...'consider' ?

...and its this lack of consideration for what might be the biggest rally in market history that I find surprising. I find it even more surprising than the delusion 'everything is fine with the economy' that is inherent in the cheer leading maniacs on clown finance TV.