Nearly 'time for a breather' - seems to be the majority analyst view of S&P's upside romp, which we anticipated would move over 5000, without multiple expansion, because it's broadening-out just enough to help hold together.

We have NOT shorted this market at all (thankfully); while lamenting the slow uptake of actual valuation candidates, mostly in the small and mid-cap areas.

There may be a little more in the mega-caps but most roasted the bears sure enough, but also 'from a bullish perspective'; a setback would be constructive not negative; because otherwise stretching a rubber-band until it snaps is not as likely to have a less dramatic effect. Allowing it to relax and contract, with a probably subsequent advance (Spring rally), would be the healthiest way.

There may be a little more in the mega-caps but most roasted the bears sure enough, but also 'from a bullish perspective'; a setback would be constructive not negative; because otherwise stretching a rubber-band until it snaps is not as likely to have a less dramatic effect. Allowing it to relax and contract, with a probably subsequent advance (Spring rally) would be the healthiest way.

Market X-ray: surmounted S&P 5000 after days of high-level hesitation. Most talk of 'correction' or retreat; but to the risk there's risk, it seems to be mostly in heavily-shorted mega-cap stocks.

Bottom-line: on the prowl for a constructive setback anytime 'soon' after at least one more effort to firm S&P further. More stocks participating helps.

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