US indexes are holding minor gains, a weekly close in the sp'1920/25 zone still looks viable.. along with VIX 15s. Meanwhile, Transports is holding the broader up channel that stretches all the way back to late 2012.
3 hours left of what has been a somewhat eventful week....
We're arguably at a key cycle floor, but the real issue is...how high we will go in the next up wave?
Considering the monthly cycles.... new highs seem.....very difficult, even for the super bullish Transports.
*notable reversals in the airlines, DAL +0.7%
1.11pm..nano scale baby bull flag on the indexes... sp'1920s look due.. with VIX 15s.
1.20pm.. Dow +115pts.. and bears are on the run... and bull chasers starting to jump aboard. I'll be surprised if this doesn't hold... R2K is close to breaking 1130s.... 1127.. if that can be cleared...then 1170
1.31pm.. R2K 1130... sp'1926..... bears will be getting annoyed with this...not least since we were equivalent of sp'1892 overnight.
VIX rapidly cooling, -6%.. in the 15s.