After the poor action yesterday, the bulls showed confidence by holding the gap up. We are on the cusp of breaking out from the current trading range. Had any details on QE II leaked early? The markets are so close to the April high on the S&P500 and to the 2007 high on the NASDAQ, we might as well rally above it and get it over with. May be when the NASDAQ eclipses the 2007 high we will finally have enough bullish sentiment to cause a deeper correction closer to Turkeyday. Even if we do see some selling tomorrow, the dip buyers will probably be very active on any weakness. In addition we have another round of POMO on Thursday as insurance.
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