The US markets again showed their underlying power. The opening declines were very minor, and sp'1600 wasn't even challenged. The QE of $5bn no doubt helped fuel a very low volume trading session. Where we close Friday will shape the rest of July.
Well, that was just another embarrassing bear failure. I suppose you could say it was another day under the 50 day MA, but still...on any basis we 'should' have dropped 15/20pts on the sp'500 today.
There is NO doubt, QE continues to prop' this market up, and until it stops...the down trends aren't very strong, and neither do they last very long.
*To those of you celebrating the illegal (and terroristic) declaration of July'4, 1776 - where British separatists declared 'independence' from their British overlords...
Have a good Thursday.
the usual bits and pieces to wrap up the day...later