Rentless buying pressure from the last 5 trading sessions is putting a fresh coat of lipstick on some incredibly bearish charts. If this buying pressure continues these charts will get even more attractive. While bearish chart patterns have been working more in 2015 than in recent memory, the hopes and dreams of additional Central Bank accommodation will trump any bearish chart pattern any day of the week. With bad data getting cheered you can assume the driving force behind the massive mover higher in the market is investors trading with the FED at their backs, knowing stocks remain the place to park their cash.
Here are some morning thoughts. Please post any questions below in the comment thread.