It is RISING.
Seasoned market players know of the paradox contained within upside market blow offs. The paradox holds that as a given market rises, sucking in the holdouts one by one, ten by ten and 10,000 at a whack, the wall of worry loses supportive bricks, one by one, etc.
The public is in da house and da public just cannot take it anymore. Da public sold in March. Da AAII bullish % is starting to lunge upward. Minimum upside targets are still not attained and the market is locked and loaded for these targets or higher.
You cannot micromanage a blow off. What you can do is look around at the influential heavy hitters who have gone bullish. You can look at (what was it, Newsweek?) the 'Recession is OVER!' major news magazine cover. You can look at Joe Blow, bangin' down da door and wantin' in.
RISK IS RISING. This has been a message not from a perma-bear in pain, but from a market watcher who had his big trade cashed in by the time May rolled around, raised the risk profile and now participates happily and in a measured way as the final stages of this leg lead into what comes next.
