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Wednesday, April 10, 2013

SPX 5-MInute Chart Shows New All-Time Intraday and New All-Time Closing Highs for the Broad Market

The long five and one-half year wait is over. The SPX moved up through the all-time intraday high at 1576.09 from October 2007 a few minutes after the opening bell this morning.  The new all-time intraday high is 1589.07 printed in the final minutes of trading. The new all-time closing high is 1587.73. The Fed's QE4 Infinity and Beyond easy money pushes markets higher all year long playing a major role in the upside Caligula orgy.  Over the last month, money is fleeing Europe in light of the Cyprus crisis and flooding into the U.S. equity markets.  Then a  triple whammy occurs as the BOJ joins the money-printing party; the Land of the Rising Sun helps create the final euphoric push over the top today.

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