Cheap cost of money is one reason why markets may discount negative news and continue to rise despite any short-term negativity. I was invited to present at the Market Technicians Association, Global Intermarket conference at Budapest. Technicians from Central and Eastern Europe had come together to discuss the global Intermarket situation and outlook for 2011. In this first issue of the year, I will discuss the observations made at the conference regarding the larger global perspective, and next week I will summarize the global outlook for 2011.