So far today it’s just been a straight shot higher into the 1310 resistance area on the S&P 500.

From a daily chart perspective yes this looks nice but headline risk remains large and with chairman Bernanke having a testimony tomorrow I am keeping my cash pile at 96% and looking to spend more time away from the tape so as not to let it convince me to do something when the odds are just not good enough to act.

 

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