The market continues to explore above the October 25th highs which we view as very positive. It’s a cautious probe but if the US can get some steam then we should continue with ease toward 5000. Helping our cause is China and Hong Kong, but ideally the US will join on as soon as these mid-term elections are fully clarified. No reason to be short. The trend is firmly up and I continue to favour the smaller can materials/resources and energies.