Every time this market sells off, it's to a higher low.
The Depressionistas continue to fight the facts - on both scores of housing (Case Shiller) and consumer confidence, the numbers are what they are this morning - better...
What's next?
The macro calendar is always tough to fight and the news cycle is too... in the next 48 hours both will change (sorry Swine Stressionistas):
1. Obama's 1st "100 Days" is tomorrow, and his 8PM prime time TV speech may not appear on Fox, but it won't be a bearish catalyst either.
2. Month end for April = Thursday. It's been another fantastic month to be long stocks here in the USA, and that is what it is...
Now that we've made higher lows, will we make higher highs and close above 869 on the SPX next? I'm definitely on the long side of that TRADE.
KM