Our Beloved Ben did it again !!!
- when he stood up and said "No Tapering," the markets went wild immediately.
- the SPY easily broke its all-time upside resistance at $171.1 and closed at $173.05 (see the 1st graph below).
With liquidity coming from (a) Brother Ben, (b) mom-and-pop coming back in the market, (c) a mass exodus from bonds to stocks, etc., how could the markets go anywhere but up? [Bonds are such a bad investment now, we have read that even bond funds are buying stocks!]
We see more upside (and maybe even much more upside) in this bull run, but the market does not always follow my direction. Because of this, when the time comes to hold-or-fold, we rely on MIPS to tell us what to do.
More on this later...