Pushing the limits

The bear squeeze continues...........Nasdaq has now recorded 9 consecutive up-days...volume is light,the economic background continues to deteriorate but the Fed continues to make vast amounts of liquidity available via POMO,(as described on Apartofny's blog      http://www.apartofny.com/2010/09/pomo-auctions/)         Very unusual activity on the FTSE,with a big engulfing hammer candle on Friday completely reversed mainly on the back of US market strength.I have underestimated the strength of these markets but continue to believe these rallies are unsustainable given the economic background.