IWM
Sp'daily5
Transports
Summary
A bit of a mixed day, and for a few hours, it looks like we might closed much higher as the SP' teasingly tested the upper channel @ 1454/55. That held, although we closed pretty close to it.
Arguably, bulls can still feel pretty confident on a multi-week basis, unlike the bears who are on the verge of seeing new index highs.
The transports lead the way higher, after one airline (I forget which one), had slightly higher passenger numbers. The falling oil prices also helped overall sentiment for the airline sector.
With the VIX closing lower, Mr Market remains extremely complacent, and the algo-bots are still able to meltup this market on what is still very low volume.
A little more later...on WTIC Oil.