PRINTING PRESSES

This is why opinions are one thing, technical charts another. Once recapturing the 50 moving average stocks have consolidated, but not moved to new high yet. Only an unexpected break back BELOW the 50 EMA would cause immediate alarm and that can't be ruled out.

Why does Greece need a bailout and the US doesn't? We have the RESERVE currency, they do not. The adjusted M base continues to rise to new heights.

So with appearences of stabilization, the REFLATION attempt is ongoing, commodities rise, stocks rise, as the players see the FED has their back....the playbook says stay in stocks.

Selling pressure appears to be melting away, but keep this in mind, while all this "supposed" buying interest comes into assets, the stock market is under its 5 month old top of SPX 1150, even as certain measures of buying interest make new highs and sellers retreat, I would call that a divergence that bears monitoring.

And so it goes, main street and wall street couldn't be farther apart.

Duratek