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Wednesday, November 26, 2014

Daily update 11/26

The streak continues.  Here is the daily chart.


It was yet another closing high.  We had the lightest volume since the end of Aug.  Most people must have taken the day off.  I don't even know what to say about this super odd price levitation.  In all the years I have been doing this I have never seen such a big lack of selling pressure.  There has been no real downside testing since this rally started back in mid Oct.  Nearly everybody must think this market can only go up from here.  I have never seen such a strong group think about any market before.  I find it rather amazing in the face of a global economy that is clearly slowing down significantly.  If this turns out to be a sucker move it will go down in history as the biggest one ever.  Time will tell.

Have a great Thanksgiving to U.S. readers.  I hope everybody gets to enjoy some family time.

Bob

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