S&P Makes Good News From the Bad

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I get it — a hot CPI number and the ES sells off and then rallies 57 points in 55 minutes. 

The PPT-induced rally — Plunge Protection Team — has no bounds, but how long can it keep going up with the dollar falling, gold at $2,200, Oil at $79, Bitcoin at $72,300, US debt growing $1 trillion every 100 days, and CPI increasing 0.4% for the month and 3.2% from a year ago?

This is not a complaint. 

I have always been a bull market guy, but I can't be the only one scratching my head. Goldman said the Fed will lower in June, September, and December. I have no way to say that. Two wars in the Middle East, Putin in Ukraine, and China warning South Korea. There are flashing red lights all over the place but that is not stopping the PPT or the S&P 500.

Is it wrong to be concerned? Absolutely not, it's like a story about my friend I got off the streets in Chicago, Black Mike. He told me he was worried about my garage getting broken into because I lived so close to a bad area in Chicago and I said, “I can't worry about that Mike, I know they are coming, I just don't know when.” I guess the moral of the story is a very old story: The trend is your friend, and as long as the dip-buying bots are buying, there's no reason to fight it.