The BIDzilla for U.S. equities is relentless. Though Europe is far from out of the woods (see last week’s PMIs) and it’s still unclear when the banks in Cyprus will reopen tonight’s bailout removes the uncertainty of a Cyprus eurozone exit and clears the path to new all-time highs in the S&P500. Tomorrow’s close is key.
It will be interesting if last week’s rotation into the defensive sectors reverses.
(click here if chart is not observable)