The bulls continue to joyfully curb-stomp the longer-suffering bears, as the /ES nudges its way past this green horizontal.
That line represents the peak from two Fridays ago. In other words, the market fell about 150 points, gave bears like me some misguided hope, and then thrust two lengthy knitting needles into our eyeballs over the past few days. It’s been a delight, let me tell you.
The green horizontal has little significance except inasmuch to represent the peak from earlier this month, The next meaningful level is actually the Fibonacci at 4528.71. It won’t be long before there’s serious talk about new lifetime highs on the S&P 500.
