The market continues to rip higher, with the /ES blasting to levels never seen before in the history of the universe. I’m confident the 6,000 level will be on everyone’s mind now.
Below is a live WebCam of me today. I am calm not only because my positions are totally holding their own, but also because, due to God’s grace and mercy, we’re having our best server day in a long while.
Still, this breakout IS a concern. The bullish pattern is quite plain, and unless this thing gets a roundhouse kick to the face, there’s no reason it shouldn’t just march higher. At a minimum, we need to see a failure below this “former high” horizontal to hold out true hope.
I have no earthly idea what magical elixir people think the Fed Minutes are going to have, but they seem quite fixated on that. Keep in mind, of course, the real show is tomorrow morning, when the CPI comes out.
