New Highs

I got my mind made up
I need to feel your touch
--Bryan Adams

The seemingly inevitable retest of previous highs is here. Yesterday both the SPX...

...and the COMP...

...closed at new all-time highs. Intraday highs set last fall have yet to be bested, but that seems a matter of time--perhaps hours...

Bulls are ready to run in virgin territory. Bears, on the other hand, are eating some humble pie, as they had confidently boasted that last fall's highs marked THE highs and the end of the ten yr bull market.

Perhaps it would taste better a la mode...