Great chart posted by Zero Hedge citing John Lohman, also a friend of this blog, showing how the S&P500 would be almost 10 percent higher if it only traded during hours when Europe was closed. No doubt the robo traders have their buy programs kicking in as soon as Europe closes. Today was a perfect example. As ZH points out it works until it doesn’t. Just like bull markets.
(click here if chart is not observable)
Global Macro Monitor 
A friend indeed – keep up the great work!
Not sure why I’m “Anonymous” this AM instead of “John L”, but I guess it accurately reflects the fact that I don’t speak to anyone until the caffeine kicks in