Today's move above sp'1474 was confirmation of what the Transports and the Rus'2000 have warning about for some weeks. The mid-Sept' 2012 highs are conclusively broken, and much higher levels are likely in Feb/March. A minor retracement is of course very possible at any point, but the point stands..the old high...is busted.
Incredible strength in the transports, it is a relentless 200,000 ton oil tanker..nothing can stop it, well, except maybe a small rebel gunboat... perhaps?
A minor retracement to sp'1450/40 is of course viable, but with the SP' joining the Trans/R2K in breaking the Sept'2012 highs, I think today was indeed very clear about the mid-term.
I still see a few noting the giant gap on sp @ 1425..but that now seems completely out of range, considering the strong upside on the bigger weekly/monthly charts.
the usual bits and pieces across the evening.