Closing Brief

The market saw the fourth consecutive daily gain, lead once again by the transports, +1.5% in the high 6300s. The other indexes saw more moderate gains of around 0.5%. Whilst the QE-POMO continues, bears face relentless problems.


sp'60min

Summary

Four days up..and I can't see this nonsense ending any time soon. Ohh sure we could pull back, a day..maybe two, but considering the weekly and monthly charts, we'll surely just melt right back up.

If this is the start of a 3-4 month algo-bot melt into the sp'1800s, its going to make the summer of 2013 one which the bears should simply just step aside from.

*I remain on the sidelines, Long Oil and Short silver are trades I will be looking for in the days ahead...when entry levels/conditions look better.

have a good evening.