The typical holiday grind higher is happening before our eyes. No one wants to be short ahead of the long weekend. With only good news on the horizon, we should finally be free from this 1860 to 1890 trading range. There is a healthy wall of worry with the Russell underperforming. The market did it again. The bull train left the station without Dennis Gartman and Ralph Acampora aboard.
It is surprising to still see so many bears despite this steady climb higher, right near all time highs. As long as those bears don't throw in the towel, I expect this rally to continue. Perhaps Draghi will give the final KO punch to the bears with a bazooka QE in June. Even a QE lite will have shorts scrambling.
I will sell my bonds today ahead of the 3 day weekend. Be back Tuesday.
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