Really, it just cannot be this predictable can it?
If you pull up an intraday chart of the S&P 500 so far today, it's a 45 degree angle as the computers have walked the market up to S&P 1079+. Almost as if it's scripted...
We now reach what once would be heavy resistance - a previous high, but nowadays these resistances are blown through as if they are pieces of paper and Larry Summers is a pair of scissors. If one had any iota of fear of a double top forming one would sell some long exposure here or (gasp) hedge with short exposure; but who sells anymore? The intraday high from a few weeks ago was S&P 1080.15 - once the computers take us over that level, the buy orders should pile in as our journey to S&P 3500 continues. We'll join of course because this is the market that just hands out money.
Where are the intraday selloffs? Where are the nasty reversals when we are all complacent? Where is the fear that this is just so easy and predictable it cannot continue? Those ideas seem to be from a bygone era it seems.