The Bull’s Principal Savior

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Another day, another lurch higher in the market. What a shock.

In spite of the Euro getting its butt (relatively) kicked, the market continues not to care. As I type this, the IWM and QQQ are both up, and in my estimation, a key reason for NASDAQ's insufferable strength emanates from Cupertino. Apple has made yet another never-before-seen high in its three decades as a public company.

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This is a very clean breakout, with a measured target of about $735. If this turns out to be the case, it means more suffering for long, long, long-suffering bears. If, by some miracle, this breakout actually breaks down, it will provide some much-needed relief for the ursine set.