Hans Gruber: Who are you then?
John McClane: Just the fly in the ointment, Hans. The monkey in the wrench. The pain in the ass.
All three major equity indexes closed yesterday at all time highs. The wind is at the backs of the bulls for a year end surge.
One fly in the ointment is the Trannies which have yet to confirm the new highs in the Industrials.
While new highs for the group are a day or two's worth of rally away, the nonconfirmation constitutes one cause for pause--however small.
position in SPX