11am update - the Friday close will be important

Mr Market has once again swept away those bears with short-stops. Only the Transports has failed to break a new index high. What is clear, if the bulls can hold these gains into the close, then the relentless ramp is set to continue into next week..and beyond.


sp'60min

Summary

How we close today will be critical.

On any basis, bears need to see much, if not ALL of todays opening gap index gains be wiped out. Similarly, we need to see the VIX get back into those 14s, although that looks so very difficult now.

Still, a long day ahead.