My gut says it is not. Oh the conflict. It should be a top technically, it's not exactly busting higher on volume. What is NFLX and SBUX going to bring the entire market down tomorrow? Or will Jobless claims, or GDP Friday ?
Eventually, the Repubs in the House will intervene and force Benny to raise rates or cut out the POMO. They have to. As long as Benny keeps this up, he makes Obama look good. The Repubs know that and will have to stop it soon, or Obama will cruise to being re-elected. They have to crash the market if they are going to have any chance in 2012.
They need to rally the banks to keep this momentum. They simply don't want to buy BAC, what does that tell you? Give me a financial rally I can bank on, otherwise I'm just looking for another shorting opportunity.