If Friday wasn't sufficiently convincing, today's market action confirmed the strong hold on this market by the bulls. SPX opened this morning and traded lower, hitting $1966 around 11 am ET. But support is in the $1950 to $1960 range; it didn't even challenge support. SPX recovered most of those losses, closing at $1974, down $5 on the day. RUT closed at $1147, down $5. Volatility rose a bit with the VIX tacking on a quarter point to 12.8%.

No economic news of any significance was scheduled for today. CPI and existing home sales come out tomorrow.

There are certainly plenty of solid economic reasons for this market to not be this strong, but...