S&P 500 Bullidex ($ES_F $SPY $SPX)

The S&P 500 Bullidex rose 5% to close at 240, signaling a decrease in volatility relative the percentage of rising stocks. This indicates a favorable environment for investment as the odds of successful speculation are waxing.

The upward breakout after a few weeks consolidation is healthy for the bulls as the S&P500 moves above the pre-Lehman failure mark. On top of that, emerging markets continue to kick ass, commodities look stellar, and the long term yield moves higher each day.

So long as the dollar remains weak, foreign equities leveraged to commodity prices will shine.