Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Remarkable eh?
Bears seem totally neutered by zookeeper Bernanke. We now have a very obvious defined support trend line connecting the lows of Nov, Dec, Feb, and April. Until that breaks the bears have little to offer. Each touch of that line has now provided a significant 2-3 day bounce. Today’s leadership is a whose who of broken stocks and sectors but bulls can simply say that is “rotation”. Barring some weird event in the last 2 hrs the head and shoulders idea is kaput as the S&P reaches for year closing highs. All time intraday highs are 1576 area.
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