Well, it's official.
NYA clears to a new, 2-year high. And a weekly close to boot.
Bears continue to get firehosed by the Infinite Fiat spewed forth by the "The Ben Bernank."
For those who constantly diss the 5 posters here who remain bullish on stocks, I present the following Xtranormal video which documents how I dropped my "Permabear" status back in 2004, and learned to follow the tape instead.
Furthermore, I retired in 2009 and started trading stocks for a living, which means I became a "Robot Trader", following the direction of the tape, which is essential to survival as a trader if you are engaged in it full time.
Now let's check out the market condition:
Financials have cleared to new highs for the move:
Retail stocks still strong:
Absolutely no reason to be bearish right now.
Anyone thinking we are near a market top with full retail participation? I suggest you get a copy of Bill Fleckenstein's Mania Chronicles and read about the booming job market, ultra-strong economy, and wild-eyed fascination with stocks going on in 1999 - 2000.
We are nowhere near that. People are still negative on stocks.
As long as we have this wall of worry, its all good for equity investors.