The S&P remains trapped below the 50% retracement level at 1121, but it's acting like it wants out. Even dollar strength has failed to derail it (so far).

With interest rates near zero, people are desperate for yield. This is forcing money into places it normally wouldn't (or shouldn't) go and is creating the next mis allocation of capital in our markets. Why am I not surprised.

First it was stocks, primarily Technology. Then it was real estate, financial stocks and commodities. Now they'll settle for any asset class they can inflate, metals and stocks are the flavor of the day. It's like watching a movie for the third time.

This is what Central Planning gets you, chaos an inefficiencies. A free market has to be "free" to thrive. It also has to be free to fail. That's what keeps it in balance. We haven't really had that in "who knows" how long. We certainly don't have it now, and our Country is paying the price.

Where this ends is anybody's guess. But I'm betting it's a place no one really wants to go.