The market is looking tired, but it looks like it's got a last puff or two. 1370.58 will likely get hit finally, but it looks like it's saying "that's it."
Futures have rolled over from new highs last night. Not exactly bullish. China cut its bank reserve ratio again and their markets have sold off. Not exactly bullish. The Dow Jones Transports have yet to confirm the Dow Industrials and are rolling over, perhaps because year-over-year diesel transactions and gallons used are plummeting. Not exactly bullish. Meanwhile crude oil goes higher. And, oh yeah, there was another Greek deal.
The flip side to all this, is that until the S&P breaks below 1340.80, it's not exactly bearish, either. So let us revel in the interesting times we live in and enjoy the charade.
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