We enter a new month this week mired in a persistent global malaise.  The weekend increase in Israeli-Palestinian tension doesn’t help, nor does the continued inability of BP to deal with the largest oil spill in history.  Economic news this morning was positive but without sufficient importance to do much more than soften the opening gap down.

Despite the global gloom that continues to cause significant concern about economic recovery virtually everywhere, the market pushed right through the resistance wall last week, threatened to give it back on Friday and this morning (Monday), but then continued forging ahead today.