Closing Brief

The market closed higher for a second day, and the close was a pretty strong one. The sp' closed 1% higher @ 1454. This is a mere 1.5% away from breaking the QE spike highs.


IWM'60min

sp'60min

Summary

So, a major victory for the bulls. The close is even more decisive when seen on the daily cycle.

Next target for the bulls is an obvious 1475, a new index high from the 2009 lows, and that would open up an attempt on the big 1500 level.

*VIX closed flat, but the indexes sure did not show any real weakness today.

More later