Drifting up on low volumes in a gentle ongoing short squeeze.
These types of markets typically run into a hard event and crumple. The timing may be problematic for the punters, and so the gentle short squeeze is fed daily.
The equity market commentary on the US financial news networks would make Baghdad Bob blush. I think the wiseguys are getting a little nervous because mom and pop seem to be sitting this one out.
SP 500
NDX
"O that I could find in the desert a wayside shelter for travelers, that I might depart from my people. For they are all adulterers, an unfaithful mob of traitors. Their tongues are devious weapons, bent like drawn bows. With falsehoods rather than truth they have gained power. They commit one crime after another. They do not know me, says the Lord. I will make Jerusalem a heap of ruins, the lair of jackals. I will lay waste to Judah, a desolation where no one can live."
Jeremiah 9:2-3,11