If there is one constant theme week-in and week-out that I provide in the technical analysis on the market, it is this: THE MARKET GOES UP NO MATTER WHAT!

Unemployment rises – market goes up!

Federal Gov’t takes over the health sector – market goes up!

Greece on the verge of going belly-up – market goes up!

Fed Raises Discount Rate – market goes up!

Every economic report out there sucks – market goes up!

All investors run out of money to buy anymore stock – the fed prints money and puts it in the equities market – and the market goes up!

What I am trying to say here, is that, at this point, the bulls are going to rally until it simply has decided it has had enough, takes its profits and goes home. You can throw what ever piece of gloom-and-doom in its way, and the market will still find a way to push this market higher. That is the essence of the market we are currently in. But don’t go buying blindly, because you better be aware of the fact that once this party ends, it is going to be ‘lights-out” in a very sudden and swift manner. While there are a lot of traders sitting happy with a stack of cash made off of this market, they will be the same ones throwing themselves off the 32nd floor when this market does indeed change course.

But it won’t do so until it is gosh-darn ready!

Here’s the charts on the S&P and Nasdaq

Click here to see the chart on the Nasdaq.

 

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