We continue to be amazed by the lack of amazement at this market. In most likelihood, this in part has to do with people underperforming and not exactly being in the mood to talk about its odd behavior. That’s understandable. Yet the market continues to exhibit an almost “weird” resilience, a resilience that one must respect. If you didn’t think so look at the charts below:
As we can see China is leading the way. Does this portend even more gains? If so, we’ll need volume (institutional buying) to increase.
Once again, we need to continue to see institutional conviction via volume. This has yet to blow us away. Today was a good first step but it needs to get a little more emphatic.
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