3pm update - flying high

US equity indexes look set for a second consecutive net daily gain, with the sp'500 within 0.4% of breaking a historic high (>2119). It remains highly notable that the second market leader - R2K, along with the 'master index' - NYSE Composite, have both broken historic highs today.

Higher oil prices... not so bullish for airlines

R2K, daily

Summary

So.. a second day of gains, and dare I say, I am somewhat bemused to still be seeing some tout sig' down waves within the near term.

Market looks set to climb into May... but with the threat of mid June... not least if Oil prices can help drag energy stocks much higher (I'd refer anyone to the daily/weekly charts for... RIG, SDRL, APA, XOM... CVX).

notable strength: energy, CHK, +4.8%... as oil and gas prices continue to climb.
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