If shorting a dull market is dangerous for the bears, then they have a problem because it doesn't get much duller than this. The indices are flat, breadth is running a bit on the negative side and other than Valspar (VAL), Valeant (VRX) and a few biotechnology names, there isn't much going on.
This sort of action has consistently confounded anticipatory bears armed with good fundamental and technical arguments. We even have Fed members out again yammering about rate hikes as soon as April. The only thing that the bulls have going for them is momentum and enduring trust that the central bankers will never let the market fall.
Maybe it's the fact that everyone thinks that the basis for an even higher market is so flimsy that it keeps running. It is a giant wall of worry -- but the worry this time is that there isn't any reason that the rally should continue.
This is a good time not to do too much, so I'm going to head take care of some long-delayed personal business. With the bulls still holding the action steady, I'm not expecting much to happen this afternoon.