Tick is exploding higher. The AD line only seems flat because it's pegged at highs. Institutions need to participate in moves like this or risk getting left behind. Volume looks very low. VIX down about 15 points to 60.
12:05PM PST: Talk about a melt-up!
CLOSE: I would have guessed it would have taken a few days to get here. Unreal. Selling risks remain. A measured move up would be incredibly nice, but it's still not a normal market so I can't predict that. In fact, I did some serious trimming and partial hedging at the close, but would be more willing to re-in on pullbacks here. Wouldn't be surprised to see a morning move up a touch, then a mid-sized pullback.
Black Knight releases Mortgage Monitor for July
6 hours ago