3pm update - closing hour chop

Market is holding onto its gains. Few bears remain, and those that do..have no power. A minor bull flag is possibly setting up on the hourly charts..with upside into the 1550s by this Friday.  VIX is only slightly lower, -3%, but as I feared, VIX 20s look set to remain absent until May.


sp'60min

Summary

Minor chop into the close.

Regardless of where we close, the bulls have achieved a significant victory with the new Dow high..not that it was unexpected..with the transports seemingly headed for 6500..if not low 7000s.
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I remain largely on the sidelines, although I'm likely to be riding SLV higher for some days ahead.
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*I guess its time to turn on CNBC and see just hysteria filled, Ms. Bartiromo and her chief lackey..Mr Pisani are.

Those clown maniacs never saw the peak coming in 2000...or 2007...and they sure as hell won't see the next one coming.
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back after the close