Uncanny Strength

This market shouldn't be this strong.  Not with the expiration of a chunk of tax cuts, future spending cuts, and with slowing earnings growth.  But free money from the Fed can make the market do mysterious things.  A mysterious levitation that defies logic but you can't fight it yet.  I originally planned on going short today, but the price action screams to me that the highs at 1475 SPX will be retested, and perhaps surpassed marginally.  So I will wait for the bulls to overreach before going short.  But I am not daring enough to play the bull side at this stage in the game.  Expecting more short squeezing ahead of the nonfarm payrolls as the ADP number of 215K has probably gotten bears nervous.