Last night in the comments section, I asked if there was any special reason the ES was falling. The reply came that it was to “tease the bears” and that the ES would assuredly be green by today. Well – – right again, Slopers.
For almost precisely one solid year, the market has done little but go up. Nothing – – not even the government default nonsense – – has slowed it down. (Of course, for five solid years, it’s been going up also, but there were one or two major interruptions along the way).
The last surviving bears are giving up (I know……..I’m getting the emails from those throwing in the towel). At this point, pretty much the last hope for any renewed weakness is if the Russell (not the little kid above, but the index below) stays beneath the tinted area. Failing that……..the bulls can just stick a big fat bow on this year and enjoy their huge present from 2013.