At least for the near future, stocks look strong.  Check out some of the breakouts going on – Simon Property Group (SPG) and Amazon.com (AMZN).

Simon Property Group (SPG) Chart

Amazon.com (AMZN) Chart

Now, Transocean (RIG) is a different stock from the high-flying stocks like Amazon.com (AMZN) and Simon Property Group (SPG), but the action is interesting nonetheless.  If RIG can get above the $55 level, we might see significant upside.

Transocean (RIG) Chart

For now, the trend looks to be up.  A couple questions I have:

1. Is QE2 priced into the market?
2. What kind of jobs report is needed on friday to reverse the trend?