The bull marches on

Mark another one in the books for the bulls today. We may not of  had another monster rally or monster reversal but one thing that did catch my eye was the lack of selling.  Looking at intra-day charts of the indicies I see that as we came down off the days highs there we no big volume on top of that the market tested the lows of the day multiple times without any selling pressure to move it lower.  One more bullish sign is the lack of confidence in this rally. Every trader on TV and every trader in the forums I browse seems to think that this market just MUST have some selling to end this week, this is the type of thinking that causes the intense bear market up thrusts.   Right now I do not see any resistance until around 11800 on the dow and 1300 on the S&P. I don’t think it will be a smooth ride there but I do think we should test those levels.      Also notice another dollar rally day, I have been telling you to watch this day after day this is a significant move for the dollar. Grains, metals and oil have all come down in a big way, tides are starting to turn.