BigTrends

See-saw action here today but mostly constructive.  One thing we know about expiration Friday is the pinning effect, where open interest levels rule where prices seem to magically land at the close.   One thing notable about this rally is the broad strength, something lacking during the last rally (nov/dec 2008).  Also, the VIX fell from 80 to about 36, this time around it fell from 55 to 35, so the velocity is slower, the fear less of an issue.  We should see some kind of correction, but as we know...markets are irrational and can extend further than we 'think' they should go.