TraderWise

The market continues to grind higher. The prevailing thought on "the street" is that the credit crisis is overblown. Traders are focusing on solid earnings, strong balance sheets and low interest rates. Economic conditions are not recovering at the pace everyone would like to see, but the consensus is that better times lie ahead. The SPY is within striking distance of a new high for the year. Earnings season is almost over and the economic news is light. That means that the upward momentum will continue and it could be fueled by option expiration.