Inflation Buyer

There is a bid underlying the SP500 futures which has been a thorn in the side of the bears just when they were maneuvering for a test of the lows. Managers really see the indexes as being a play over time and are viewed as being cheap against the rest of the world's investments whether they be commodities or whatever. Index pricing will go hand and hand with inflation as long as inflation is a manageable opportunity and not a real threat to corporate profits.