The S&P 500 opened up 5 points to 1423, breaking the post-crisis high of 1422.38.
A close above this level would be bullish and point to further commodity currency gains. What’s odd is that the gains are coming with USD/JPY declines. The broad shape markets today (including the gold rally) is suggesting QE3 as the driver but (paradoxically) every tick stocks move higher, QE3 becomes less likely.
