10am update - Transports powering higher

The main indexes are moderately higher. Most notable, the Transports, which is making a play for the 7100s. The 7300s are just about viable this month. Metals are holding moderate gains, whilst Oil remains weak. VIX is a touch higher..despite the index gains.


Trans'weekly

 

sp'60min

Summary

Market looks tired again. I don't expect the sp'1775 high to be taken out this week...but likely later in the month.

We should see a rollover by late today, but it will be difficult with heavy QE..and there doesn't seem much of a catalyst to knock the market lower today.

Perhaps a down wave across Tuesday/early Wednesday, which is really the only window the bears have this week when there is no QE fuel.
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stay tuned!