The stock market is in melt up mode. Going up little by little almost every day whereas the few down days are a bit of a yawn. That is how we got to so far above the March lows and now within striking distance of 4,200 for the S&P 500 (SPY).
4,200 is an important level because it symbolizes the start of the new bull market (20% above the October lows). We faltered at that point in early February with a combination of hawkish Fed rumblings plus emergence of disconcerting developments in the banking sector.
