There is not much to think about here. What you observe are short-sale target stocks pushing up into logical areas of resistance BUT continuing to move up through their patterns and these areas of logical resistance. That is telling you something - this market wants to go higher. If you are a would-be short-seller, it appears that you are very likely to be standing in the path of a QE train. Meanwhile, the Market Direction Model has issued a buy signal as of last Friday, despite the skepticism of some, and that call has proven out so far today.
The situation is still fluid, but perhaps we should ask ourselves a simple question: Are today's politicians more likely to impose austerity and pain upon their constituents, or are they more likely to simply "print, baby, print" in order to solve their insolvency issues? We'll take the market's action on its face. One may likely be better working some of the pocket pivot buy points we've alerted members to over the past few days.
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