The hyper-ramp from Oct'15th continues, with the sp' now having gained 235pts (12.9%) across 25 trading days. There remains moderate threat of a retrace, but at best.. sp'1980/50 zone, regardless.. broader upside into the 2130/50 zone.
Unquestionably... tedious... and for those still attempting to short the indexes, this is worse case scenario. An effective 13% ramp across 25 days, with new historic highs in the Dow, Trans, and sp'500.
The Nasdaq Comp' has managed post 2009 highs, and is now around 430pts shy of the tech bubble peak (5132, March 2009). Only the R2K and NYSE Comp' are yet to break new highs, and the weekly/monthly cycles are very bullish into early next year.
Housing starts, and the EIA oil report. However, the main aspect tomorrow will be the latest FOMC minutes, due 2pm. Mr Market might use it as excuse to break lower.. but current price action offers little hope of such a move.
Closing update from Riley
Biderman on clown finance TV
*warning... Tom Lee is in this video.. may induce nausea or sporadic zombie-rage.
A decade of GLD
I shall end the day with something that clown finance TV covered today, the tenth anniversary of the Gold ETF... GLD.
Seriously... back in Nov'2004, is that the Bernank... behind Pisani and the relics?
Goodnight from London