Resistance remains 1130 are for the SPX. SUpport below at 1040.
Historic lows in mortgage rates cannot revive housing market. One of the main drivers behind FED policy has failed, but policy persists.
It doesn't take much to turn around pessimism to optimism. IIAA polls shot back to 37% bulls and Bears dropped to 31%.
Executives especially small business do not exude optimism. Continued games with gov data that get revised DOWNWARD go unnoticed.
Data points you see in "normal" recoveries is near non existant in the current cycle, one of the strongest reasons to not get behind this rally. IMHO
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