31 Oct 2014 - Unbelievably... SCARRRYYYY...

Price marched higher accelerating to ATH.  The SPX just stopped short of the highs where the Dow Jones just broke through it.  The gaps are adding up from the lows made in Oct 15th...  Is this sustainable?  A few weeks ago, we couldn't even see us pushing up back to the 1980s and now we are testing new highs.  So to answer the sustainability..  As long as the trend is up, it can.

The bears got trounced and there are a few panicking and a few looking for a pull-back.  Until the ST turns down, I would not try to make any speculation here as to what wave count we are in or how far down we could retrace.  The market has disconnected from reality, and to some this is a sign of a bubble.  Irrational?.. Sure.  But it can stay that way longer than you can stay solvent if you are a Bear.

MT: UP
ST: UP
PA: UP