- It looks to me as if there is a strong possibility in this rally continuing....however, don't be suprised if it falls off a cliff.
- Everyone is watching the SPX 1040 level for a breakdown. If it breaks watch for some fireworks.
- Nevertheless, it looks like Ben could keep the music going a little longer. There is some heavy buying going on, some not seen since the March 2009 lows. Dollar bulls are at record highs (bad for market) and market participants are just as pessimistic now as they were near the March 09' lows.
- What the verdict? .......it smells like a rally a coming
S&P 500 Index - 60 minute chart