Bears powerless..and thus the default trend continues, with the algo-bots having near ideal conditions for slow motion upward melt. Hourly index charts are offering the 1690s late today/early Tuesday. R2K and Transports both leading higher by around 0.5%
What is there to say? Its a pretty dull Monday. Bears have no power, and thus its the usual melt.
There remains a chance of a small fall on Wed-Thur' when the Bernanke is speaking, but really, thats overly risky on the short-side, and I sure won't be part of that.
Oil is a touch lower, and certainly isn't attractive right now, daily Oil charts are actually looking moderately weak for a few more days.
Video from Hunter...with Denniger
Despite D' being rather annoying at times, he does excel in macro-economics.
Although I have to say, we've been hearing this kind of doomy chatter for some years now..and Mr Market simply doesn't care.
time for lunch