Barring a nasty reversal in the last 45 minutes, today is a big win for the bulls. Support of S&P 1100 has been held; a major move up is being consolidated with almost no pullback at all. Stocks are simply churning before making the next move (up!) - that's how it appears at this point. One would think they would of dipped us below 1100 for a moment at least to collect all those stop loss orders, but bears cannot even manage that.
Dip buyers remain absolutely confident Ben Bernanke's printing presses will present them with only wins, and no losses. They will continue the now religious fervor of buy any dip. One day this will change. Today is another moment where *that* day seems to be in a galaxy far, far away. Now we just eagerly hope for more dollar destruction tomorrow....lower living standards, higher stock prices - the new American dream.