It seems last Friday was yet another One Day Wonder in a long, long parade of them over the past eight years. We have resumed the Steadily Climb To Lifetime Highs schtick, as evidence by the mid caps…

……..the S&P 500……..

……..and the Dow Industrials…………..

Naturally, the bears have been getting killed, as we can see from the Ranger Bear fund, hitting yet another never-before-seen low price……

Of course, the real question is what happens when the S&P tags the extension level I’ve been talking so much about. We got within 1.6% of it on Friday………in other words, it’s spitting distance from here.