1. This is exactly what follows such an manipulation play the bullshit story from Reuters ( bought by Rothschilds 200 years ago) or Bloomberg ( the same owners as Michael Bloomberg is just another puppet who owns for other people). They want to get markets higher to suck retail in and sell some expensive facebook or twitter stocks before the naked emperor can not hide that he is without clothes. Nevertheless they got the shorts by their balls as long as Bernanke delivers free cash to play the longside. The misconception though is as soon as QE3 gets announced it will rather crash the Dollar and stockmarkets. Even this correction should play out in an ABC wave and we entered wave B clearly question is how high will it go? 1315 is the level which could turn markets but as the ‘manipulation pool’ is aware of such technical levels and some shorts still out there it might be easy for them to produce a close above that level today which will bring more short term buyers into the play as they will argue this was a healthy correction and the charade can keep marching as we also enter the quarterly window dressing period next week. Still Monday will be a negative day but towards mid week they will drive prices higher again. Earnings hope is basically a bad joke as we clearly have margin pressure do to the real inflation which is now even with the Japan effect picking up momentum.
Earnings hope lifts stocks, S&P above key resistance
(Reuters) – U.S. stocks advanced on Thursday as optimism about upcoming earnings and investor buying of the quarter’s top performers lifted the S&P 500 above a key technical level.
The S&P 500 broke above its 50-day moving average at 1,305, leading investors to believe the market may have absorbed the worst of its recent pullback caused by Japan‘s earthquake and tumult in the Arab world, positioning stocks for another move higher.
“Yes, there are legitimate concerns. Yes, there are legitimate headline risks,” said Phil Orlando, chief equity market strategist at Federated Investors, in New York.
“But it’s entirely possible the market feels comfortable that this 7 percent correction we saw from mid-February into mid-March has priced those concerns in, and now we are starting to look forward to the prospect of continued economic growth and solid first-quarter profits.”
The S&P 500 is up 24.8 percent since the start of September but briefly dipped into negative territory for the year recently as global concerns