27 May 2014

SP 500 and NDX Futures Daily Charts - Record High On the SP 500

Stocks were in rally mode today. purportedly off 'better than expected' economic news this morning.

This looks a lot like an end of month rally and a short squeeze. Let it run for now, but it does not seem to be sustainable by the economic news, but rather a child of the Fed and dodgy accounting. 

Revised GDP out later this week.

Have a pleasant evening.