Wow.... who'd have thought?? But this is illogical... how can the market keep going so high?? (I say smiling while loaded with a full boat to the long side.
A trader paradox/irony: Because there wasn't outrageous panic buying pushing us much higher into the close I am speculating that we go much higher in a slower grindy way. If we had spiked higher I would have sold off my longs looking for a blowoff top. Gotta love the market and its subtleties.
End of the quarter is forcing a lot of portfolio managers who are under-weighted and in too much cash to pile into the market. That is why you see so much "rotation" and rather brief declines that are met with strong buying. Financial stocks took a breather today while the defense and aerospace stocks were VERY strong! Great Advance/Decline numbers too. The Nasdaq is now positive for the Year!