The technical damage done to the bear market rally this week was profound. The market is now guilty until proven innocent, and that means a strong sustained rally back up into the formations.
"Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy."
Louis Brandeis, Olmstead v. United States, 1928