3pm update - breaking upward

US indexes continue to build gains, with most indexes offering provisional breaks of the down trend. Perhaps most notable this week, the R2K, which is set for a net weekly gain of around 1.5%. VIX looks set for a net weekly decline of around 5-8%.


sp'60min

R2K, weekly

Summary

Suffice to say... I'm tired.....

It does look like we have a key floor of sp'1904 (although yes, I said the same thing at 1911 a few days ago).
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*I will hold LONG-index (sp/R2K) across the weekend. Seeking an exit in the sp'1950/60s.
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3.19pm.. chop chop.. but price action looks bullish into the close. hourly charts offering the 1930/32 zone into the close.

Regardless of the exact close... I do think we have a clear turn.


3.32pm.. bears appear to be closing out...and this is certainly help end the week on a high.

VIX is -5%... which considering the indexes..is pretty reasonable.


3.44pm.. welcome back to the sp'1930s.

...back at the close.