Technically, this is now a very strong market.
50ma easily crossed above the 200ma and a new daily swing high was made today, the highest since last September.
Fundamentally, good news from China but not so good here and in Europe.
Italy & Turkey are also very suspect.
The markets are extended and VIX/VXXB are not diving as much as last year when the markets zoomed ahead.
Mo
Unless there is a major bearish event, SPX could reach 2900 this week.
However, I am looking for strong resistance in the SP 2880/1900 zone, AND, dare I say it: an IT top.
ED YARDENI says not worry about recession, the FED is doing what has to be done to ensure there will be none, soon:
(NO, this is not an APRIL 1 prank)
Opinion: This is the real reason why the U.S. economy isn’t in recession danger now
Yardeni: Credit crunches cause recessions — and the Fed isn’t raising interest rates
https://www.marketwa...-now-2019-04-01