2pm update - crawling higher

Mr Market just keeps on battling higher, lead by the R2K and the Transports, the latter of which is now soaring.+1.3% on the day, into the 5500s. The monthly charts are very much open to sp'1490/1510 within a few weeks.


sp'60min

Trans, daily

IWM, weekly

Summary

Just look at the R2K and the transports, there is no doubt about this break higher.
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Suffice to say, this is a freight train, and the destination is somewhat unknown..over an unknown time frame.

Best guess though, is now sp'1490/1510, within the next 2-6 weeks.
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Having managed a short exit @ 1398, I remain content to sit this out..and see how high the maniacs/algo-bots want to take it.

UPDATE 2.15pm  The FOMC minutes have upset the market a little.

Seems 'more than 1' Fed member doesn't want QE going on much longer.

Yet, its clear, the Fed have to print, otherwise, how will the US fund its deficit spending of 1trn a year?

The printing WILL continue.