Market Thought... the shift

Some of the potential catalysts I was waiting for to provide market pull back, are not providing that pull-back.

1. Greek Deal. If CDS' get activated, I thought this may provide a hiccup. But with ECB willing to make concession, and the market yet to react, the chance that this is a catalyst has diminished.

2. China higher inflation numbers.  The number was higher by 0.4%, yet the market does not care.

Now the indicators (10yr treasury and Copper) further indicate the shift to equities.

I do not want to get carried away with bullishness, cause I am still cautious from very overbought conditions, but the set-up does not support a big pull-back.