11am update - upward melt

Equity bears are being slowly ground into dust, as the Dow/SP/Trans continue to melt to new historic highs. There is zero power on the downside, and sp'1905/10 looks viable in the near term. Metals are back to flat, whilst the VIX is a touch red..and the 11s look due.


sp'daily5

Summary

I'd added a green channel..that might reflect what will be some soft resistance in the 1905/10 zone this week.

However, that will surely be broken above, opening up 1920s...if not the 1940/60 zone in June.

Indeed, right now, I'm already looking ahead to the next FOMC of June'18, when QE-taper'5 will likely occur.

For me, that would appear the next prime opportunity for the bears...but that is a clear FIVE weeks away.


11.26am.. micro down cycle....not to be taken seriously.  well, at least I can't.