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Long-time readers know I’m not really into travel, not even when it’s for vacation. I had kind of been bracing myself for a series of trips over a period of weeks, and I was gritting my teeth with anticipation to get to the other side of them and get back to normal.

Well, I made it, and THIS is the welcome home I get!

It’s true: everything’s bright green, and crude oil’s continue strength ain’t helping. The above chart of the /RTY shows that it has been going pretty much straight up since midnight. Back to thaold standby, “context“, we must keep in mind that what’s crucial is the Fibonacci resistance, and now just a few hours of brute force:

Still, the bulls seem to be absolutely running with this baton, even with renewed trade war chatter going on. It truly seems to be a one-edged sword at this point: bearish trade news is bullish, and bullish trade news is mega-bullish. The /ES has busted out of its short-term cup with handle pattern and seems easily poised to challenge 6000 again:

At the same time, bonds remain vulnerable, as they’ve continued to be sloppily weakening in their 5th year of the bond bear market.

On a weekly basis, those same bonds could crack below its supporting trendline and send rates sloshing higher. How the bulls would make a bullish declaration out of such a thing is beyond me, although I’m sure they’ll try (“the economy is so strong, rates just have to go up to keep things from overheating!”)

In any case, not a good way to kick things off, but I’ll take more time to survey the landscape and see if anything truly important has changed.

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