I have little experience in the macro view but I would have to agree with you. The DOW is being driven by sentiment and the US sentiment seems BULLISH to this simple person. Just because something has gone up doesnt mean it is going to go down. The turtles teach that it is never too high to buy and never to low to sell.
I had a quick look at the XAO chart yesterday and it is telling me the same thing. To my simple eye it is going up and will continue to do so. If it breaks 3250 then it re-enters the long term trend that was only stuffed up by 911.
