A Bounce Here And Then Goodbye To All That...

Shorts are covering on the latest "Greece is fixed" charade. It's all reminiscent of the TARP vote post-Lehman. On the Monday (Sept. 29, 2008), the TARP vote failed the House, stocks plunged. But then they rallied mid-week. Upon successful vote on Friday (Oct. 3), the market collapsed. The difference is that this time the market is at an all time high.

The denialism is what makes violent collapse unavoidable. It's the Idiocracy's "black swan" event, known as the 'unforeseeable collapse in broad daylight'.

Ultra-bull Jim Cramer, last night:
"I am not impressed by last week's crop of IPOs…These are not high-quality companies, and it worries me that we're seeing so many of them come public at the same time," Cramer added...These are vicious IPOs" [but the rest of the market looks good...]

CNBC: July 1, 2015
"Small cap [garbage IPOs] should continue to outperform"
"I think this is a theme that we're going to see continue through the rest of the year," the technician said. "We continue to see outperformance by small over big and growth over value."

The Russell Small Cap Index (black) with Percent of NYSE stocks above 200 day moving average

As long as Etraders playing 'vicious IPOs' can keep this market aloft, while Resources, Transports, Energy, and Retail are all tanking, this will all work out fine...