SPX closed four points below the 200 SMA. Volume was light again. There was a bit of selling mid day, but dip buyers rushed in to snap up the bargains. Breadth was +60%. New highs picked up a bit to 98. New lows remained low.
The futures remain above the upper channel line. Creeping higher.
The market is ignoring any bad news. Don't mistake that for a lack of bad news. The global economic data is still poor and getting worse. Currently it does not matter. However, the market is famous for flip flopping on a dime. Some day it might matter again. There really is nothing more to say until the market stops going up.
Bob
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