Closing Brief

The main indexes all closed higher, with the gains providing some good confirmation that sp'1598 was at least a short term low. The big issue for next week..and indeed all of June, will be can the market break the Bernanke 'reversal day' high of 1687.


sp'60min

Summary

Well, as I feared yesterday, we've seen a rather decisive ramp into the Friday close.

I wish this nonsense would unravel to 'fair value'...but no, it won't. QE continues, along with the mainstream delusion that 'everything is fine'. Until that changes, the broad trend remains...UP.
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*I hold HEAVY long into next week, seeking sp'1650/60s.

Have a good weekend
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*next main post, late Saturday, probably on the US monthly indexes