It was not surprising to read the weekend commentary and see how overloaded it was with bearish commentary. Given that we have been in a stealth bull market for over 12 months, the bears have had little to cheers about. That may be about to change of course with the last two trading days very much risk off. A couple of things to consider (1) the reaction to earning results – market seemed to be long ahead of the good news hence stocks got pummeled e.g. Google. (2) it was a week when all the financial networks were going on about being over 11k in the Dow and over1 200 in the S&P (never a good indicator) and (3) (as commented by the Golden Surveyor) in the run-up to Friday, the S&P500 recorded the largest number of consecutive days above its 10 day moving average since the start of records in 1957!…..something to chew on.