We have consolidated for 3 days in this 1325 to 1333 range on the ES and with the way this market trades, that's enough time to springboard to a newer higher price zone. Fresh new highs look to be on the horizon as we don't have the ebullience and complacency that you see at many tops. The demand for US stocks is insatiable, it is leaving behind Europe and Japan as the only place to go for developed market stocks.
Another gap up is going to make the fund managers shake their head for going home flat to "control" risk. They are only controlling their upside. The gap ups are endless and happen almost daily, even with a weak Japan and moribund Europe. What a strong market!
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