It looks like the head and shoulders on the S&P 500 was invalidated today as it closed well above the 2041 neckline. Did you cover your short positions?

Hope you covered your short positions. This thing is in full rally mode today!

I'm still trying to figure out if PM's are in a new bull market, or just a bear market rally. I don't have the stomach, nonetheless, to get back in the miners at these levels.

I agree, David. Today was completely irrational and difficult to understand.

I used to think that news was just noise that could be filtered out when it comes to trading and investing. I suppose given the way the market has been trading, I may need to stop muting CNBC...at least until fundamentals start to matter again; otherwise, I might miss out on forest fires, OPEC rumors, and Janet Yellen sightings.

I have traded TVIX and VXY in the past, although I have quit at this point. The ability to suppress volatility for so long is something I cannot understand. I do imagine, though, that volatility will eventually coil up before exploding in a vicious manner. No one can suppress it indefinitely.

Until recently I thought the idea of ATH's was complete lunacy. You make a compelling case in these charts, though. The more I have observed this market's reaction to abysmal economic data, global growth slowing, etc., the more I can see the argument for ATH's panning out. I'm not good with Eliot Waves, but there is certainly a path there for a strong rally in the very near future. R.I.P. Fundamentals.:(

Seems like the fear of missing out is winning. Dips are bought every time there is a very small pullback. I have missed out big time by waiting on the correction that never seems to come. But if I were to bite the bullet and start buying, I'm sure the correction would begin immediately.

My personal opinion is that we could hit ATH's before things start to roll over. Unless there is a strong catalyst for a sell off soon, then a bounce could take us over 2100 and draw in the chasers. Bull markets rarely ever end in any rational manner, so one last push higher seems possible. Plus I think it's impossible to predict those big events/black swans. I'm neither bull nor bear, but I always keep an open mind about all possible scenarios.

I started investing and trading long after the 2000/2008 crises. Even though I have only a few years of experience, I consider the markets lately to be the strangest and most perplexing I have seen to date. Makes no sense to me. I have moved to 80% cash and am just watching the madness from the sidelines.

Between the Yellen Put, algobots, and the manipulation of oil, I am hesitant to short the market right now--even though we are in May and the economic data is so abysmal. Seems like they still have a little bit of ammo left to prop the market up...