Update: The bulls held on all the way to the goal line, and the Dow gained 108, closing at 9791.86.
The S&P 500 and NASDAQ were up 16 and 50 respectively.
Let the Dow 10,000 watch begin now.
Original post: Normaly we’d point out how bears are getting kicked in the balls, yet again, despite the endless stream of doomsaying and bad economic news. And yes, that’s going on today.
But what we really want to know, today, is whether the bulls are getting a little bit nervous at how bubbly this market is acting. It’s not the valuations per se, though those are worrisome, it’s just the steady, day-in, day-out, carefree nature of the rally. There’s no volatility. No sense of fear. There’s very little obvioius hedging. It’s just up and then up some more.
In addition to major markets up 1% or more, gold is totally breaking out again.
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