Looks like no economic news can stop the bulls these days. It would have to be something much, much bigger, but also then they may use it just as another buying opportunity on the way up.
For now let's see how they cope with some little overhead resistance somewhere at current levels:

Nice run off our yesterday's bullish ABCD, which surprisingly or not failed at same level as before:

Shorter term this is again ABCD after ABCD:

Down into the AM, then up to new highs. Easy, or what?

Originally posted by jimkane

...I really love this pattern of down in the AM right to obvious support areas, then run up from there, into GLOBEX, and continue into the night. The games they play...

Yea, but they did only slightly better than during previous attempts and another green set is looming over bulls:

Anyone notice the banks are 'breaking out'? Look at WFC, for example. I think this is has some significance.

I don't know, jarek, that green line didn't play out last time, the steep one, and it's Friday, setting up for the up Sunday night GLOBEX/Monday thing. And the bulls are very happy right now. I think it's most likely they break it out before the close. No one would love some selling more than me, but I just don't see it.

http://www.zerohedge.com/article/rydex-nasdaq-100-bullbear-ratio-highest-dot-com-collapse

The bulls are running the show right now. But the extreme is getting more and more extreme, and stretched. Their day in the sun is now, but it will only last so long...

One has to admit that small green sets calling for the decline were not 100% successful recently

The important thing is to recognize when a technique is giving an edge, and when it is not, and adapt to that. The markets are constantly changing.

Top of the hour treasury budget report. Not a big deal, but may get this moving, as an excuse.

It had to get one tick higher! That also got it to the exact 1.272 at 36.20 on that ABCD. So, we got a weekly close essentially at the high tick for the week, the month so far, and the entire 'bulls#$&' market. Those poor bears, still trying to call the top. For me, I'll just keep creating 'ride the long' plays.

It's the bulls time in the sun. I'm not going to fight that. I just saw in a Bloomberg survey not one single analyst was bearish on next year. 100% bulls! I'm seeing 'breakout' and acceleration calls everywhere. Sentiment is extreme for the bulls. It can get more extreme, or stay extreme for a long time. The $VIX is dragging on the lows, but can get lower.

Midcaps one good trading day from new all-time highs. Russell, Transports, etc. right behind Midcaps. The entire drop from the crisis erased, new all-time highs. Unreal. It's the bulls time to shine. Let them enjoy it, as it won't last. The bears will shine again, just not today. Goin' with the flowin'...