1pm update - bears being ground into dust

The market continues to grind higher..awash with QE fuel, and massive underlying momentum as best seen on the bigger weekly/monthly index cycles. The equity bears have learned nothing in over four years. How many more years until a few more of them 'get it'?


sp'daily5

Dow'daily

Summary

I've redrawn the Dow daily a touch, if only to emphasise the importance of the recent test of the 200day MA.
---

*metals continue to build gains, whilst Oil has failed to hold support, and looks set for another 3% lower.


Almost everyone is going to need ask themselves the question 'what is going on here?', on any break into the Dow 16000s. It remains amusing how even the cheer leading maniacs on clown finance TV aren't remotely comprehending what is going on with US equities.