It’s All In The Charts

The Brontosaurus Breakout

If the today's stock market was traded on a Football field, the whistle would have been blown less than an hour into the trading session.  It was unabated to record high stock prices, with prices barely pulling back for traders who where waiting for an entry.

It was after lunch time until stocks started to drift lower, but not before doing setting the tone for the session.  It was not a market to be reckoned with today, Greece Default or not.  Prices were heading higher.

I just can't help but look at the 20 year $SPY chart and not see a giant Dinosaur chomping on the current action.  Amazing to see hungry investors at record highs.  Where were you at 2009 lows?

Let's face it.  Some of the action is the corporations themselves.  They weren't hungry back then.  But they are buying back their own stock today more than ever before, kind of like a 38.356 ton Brontosaurus:

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