guess I'll start it this week

And yes, in their giddiness, I know they want +400, but it's likely not realistic before the close. So, they'll have to settle for shooting for +300.

Next leg starting on FED announcement that they will release the bank stress tests at the market close. We all know with 100% certainty that they will all pass, of course, yet the market goes straight up. Too funny.

I'll quote some Bob Seger: "One thing's for certain, it ain't ever gonna stop..."

So, will we see another 200 or 300 tomorrow? A big pop in the futures when the stress test results come out in a half hour? If I had 27 zillion dollars I'd bet it all there will not be a checkback of any significance off this pop. In other words, I'd bet it all there will be zero 'profit taking' from this huge move. It just doesn't happen in this program trading world, in my experience. We'll see. I'd love to be wrong, but the frenzy here is just out of control. It should draw lots of new buyers in.

And yes, this is at an extreme extreme, and common sense and the tools would say 'check back time'.

The guy on TV on the NYSE floor is out of breathe, talking about how exciting this is and how it will draw a lot of new buyers in. Frenzy mode. Got to admit, the fundamentals of this market, and the economy, are truly great. I can't recall when I thought the economy was better than it is now. The market truly deserves a much, much higher multiple. I'm a super-bull!

Why is GOLD going strongly down on such market ?

Another big new high for the ES there. After C fails the stress test and dumps, and the futures dump, they come in like gangbusters and ramp it to new highs. I would have bet that 27 zillion dollars that they would. C makes back most of the dump, too. Everything is as it should be, in this, the best of all possible worlds, to quote/paraphrase Voltaire.

nothing like the fed to get everyone to kiss the line

So they didn't give us a solution.