They got the Dollar General IPO out the door and a few more deals were done so its "Mission Accomplished" for Wall Street. The SP 500 looks to be completing a hand off to the retail crowd of overpriced paper in this cycle of the price pump. Time to dump the bids and let it drop, with maybe one more push higher at most to suck in a little more money from the productive economy, or at least what is left of it.
Be aware. This rally is a ponzi scheme thinly disguised even by US Wall Street standards. But do not try and get in front of it, to short it prematurely.
The Obama administration is as asleep at the switch and coopted by its masters in New York as was the prior administration's regulators under Chris Cox, and that is a real accomplishment in a failure to reform.
People forget what the markets were like in the late 1970's when the pits were dead and the average person wanted nothing to do with the US equity markets. The creation of 401k's and more gambling tables like the options exchanges helped to perk things up. This latest generation of jokers will not stop until they have trashed the markets once again.
Expect more token reforms like position limits out of this crew in key commodities, with loopholes big enough for a vampire squid to slip through without inconvenience like the other 'reforms' being crafted by Barney, Tim, Larry, and Chris.
America, what are you becoming?
"How are the mighty fallen, and their devices of empire perished..."
