It’s one of those days when everything goes up that’s not a hedge. If you ever thought the markets weren’t highly correlated just take a gander at the Lazy Man overlay. Of course the Volume BUZZ today is non-existent and we’re probably seeing a lot of short covering as the hogs head for the bull trough (however short term) that’s likely to follow release of the Prez’s Jobs for America program. As pointed out by Mr. Ice yesterday we’re in a volatile news driven market where technical systems traders (like your truly) have been more than a bit frustrated. Risk on, risk off, risk on, risk off…the brokers love it but you’ve got to react like a black mamba to keep making money in these markets. Did I mention the attractiveness of the market neutral models profiled recently…they’ve all kept their equity curves intact. One item of interest to the bulls …note that price has stayed above VWAP all day long…this is a strong momentum signal, especially when combined with the R2+ pivot position of the SPY which has held virtually the entire day.