Here we are at the mid-point of 2011, incredible. The S&P 500 (SPY) recorded a multi-decade advance of +5.6% last week.
While intermediate- and long-term technical indications made strong come backs in suit, I think this market may still be sensitive to news flow, and equities have not been this across the board overbought in a very, very long time (Bonds are commensurately oversold)….
Source: Mrkt_Commentary subscription service; prior weekly posts.
