Shakedown Cruise

It was thirty days around the horn
The captain says it's a thirty-five more
The moon looks mean and the crew ain't staying
There's gonna be some blood
Is what they're all saying
--Jay Ferguson

Purty pattern in the major indices lends further credence to the notion that this move higher could persist. The move today creased thru the 200 day moving average. Resistance resides above at SPX 1000 and 1150.

Meanwhile, fear of missing is on the rise.

Is my nonsensical vision of a rally thru summer still intact? Yep. As of yet, have I added any incremental exposure to express this view? Nope, but I might given the right setup.

But make no mistake, I believe this move, however long in duration, will ultimately end in tears.

no position