The S&P 500 has posted a similar move - a steep, sustained rally - without yet notching that decisive breakout. At Monday's close, it held just 10 points shy of four-year highs.
And ironically, these recent stirrings have occurred exactly when you wouldn't expect them: immediately after the most significant adverse catalyst this year, the London subway explosion." I arrived back in Atlanta last night after a day of flight delays in trying to get out of Sioux Falls, SD back to Atlanta via Minneapolis. The "Dennis the Menace" hurricane stub had upset flight operations and Monday flying the worst so I was behind the curve when I got on the desk early this morning and tried to get a handle on the big up-move in the market the past few sessions.