What is the event that will cause this market to sell off? It will surely be a surprise. I’m searching for reasons to be bearish and besides sentiment and the Dow Transportation Index , I’m not seeing much. In fact, as far as sentiment goes this continues to be the world’s most hated market. Veteran traders hate this market because they want action, bears hate this market because it’s grinding them to dust, and bulls hate this market because they’re under invested.

We are now getting to the ludicrous stage of this rally and the mentality among market participants is that you’re a fool not to be bearish right now. A FOOL. While I agree that some degree of caution is warranted after such a long run, these types of markets can run for a very long time. Often, instead of giving deep juicy pullbacks, all they offer is a stingy shallow pause.

Which is pretty much the case. Normally traders would welcome a bull run. Not so much this time as many missed getting on the train way back in October/November, another group missed out on jumping on board in January, and so it goes.

The dips have been shallow, fast, and aggressively bought. The backdrop of continuous European woes, incompetence, has flavoured much of the market narrative, yet still the market advanced. I’ll tout my own newsletter: from December 21, the first edition, you would have been long and stayed long through the entire run.