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We are clearly into the manic phase of this ascent, as you can practically see people punching each other out of the way to press the Buy button. Here are a few major cash index charts showing that there is definitely more room to roam on the upside, and the next chart “event” to watch for is the underside of some massive, broken trendlines. I’ve tinted the spread between present price levels and those underbellies:
As I was under house arrest all through the night (as are all the residents of my pleasant burgh for a ten day stretch), the market kept doing what it does best: go up based on endless stimulus from Fed-bux from thin air. This is what small caps have done since the open on Sunday, under the cloud of national unrest and near-martial law.
