Despite my comments and worry yesterday, today was the most bullish day I have seen in 15 months in stocks. SPX stayed on support, and the market-based sentiment I follow (2CS plus two others) finally jumped up to a reasonable level from being deeply depressed. My guess is that shorts and side-lined players flush with cash are being forced into the stock market (for very different reasons!) above 1000 spx.
There is still plenty of overhead sentiment room and any and all pullbacks are being bought.
Recent Comments