Zero Gravity

We have liftoff.  Just reached new recovery highs after the June 4 bottom on the S&P.  The market has spoken, the fund managers are frontrunning QE3 and SMP.  Draghi has now come out with headlines about bond buying, LTRO, rate cut, the kitchen sink! 
Fund managers know that if they wait for the official announcement, its too late to buy.  So they are buying ahead of it.  The Fed's mouthpiece, Jon Hilsenrath, has provided the equivalent of the August 2010 Jackson Hole speech, signaling an upcoming QE3.  The Fed will likely delay the official QE3 announcement till September to build up the anticipation.  ECB and Fed are dangling crack in front of the financial community.  We are likely headed higher into September, the money printing rally has kicked off!