Closing Brief

Another week for the bulls, which makes a running total of six, from sp'1398 to 1518. Pretty incredible, but then the Fed is throwing 45bn a month at the primary dealers..who are no doubt leveraging up at least some of those monies into equities. Who can blame them, whilst the trend is UP.


sp'60min

Summary

Once again, the case where we see an opening gap higher..and then the market flat lines, like a terminally ill patient on life support. What a great year this is already turning out to be!

Well, that's it for this week.

Have a...calm (and bullish) weekend.
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*there will probably be a weekend posting, late Saturday, on the monthly US indexes

3pm update - another week to close

Another higher high..another higher low. The broad trend remains relentlessly higher. Zero sign of a plateau, zero sign that this rally will end. Ever.


sp'weekly

VIX, weekly

Three black fail candles for the VIX, sums it up for the bears.



Summary

A fearless market, a market that is seeking the greatest rally of all time.

Even AAPL is up $10..the big $500 will be in reach next week, and then...you'll start to see them touting a challenge of the 700s again..and beyond.

Besides, if bonds have no yield..and the Fed is going to print, why would you NOT be in equties?

back after the close

2pm update - 4 hours of nothing

As has often been the case in most opening ramps...the market is exhausted within 30 minutes..and is now flat lining. The fact NYC is shutting down due to the anticipated blizzards is only aiding to keep things...muted.


sp'60min

vix'60min

Summary

So, the hourly cycles are getting toppy again. But..as has been the case in EVERY little ramp, we see higher highs..and higher lows.

Relentless...with no sign of anything changing.
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Next week...more POMO $ of course..and its valentines. That has to be good for another 15/20pts, yes?