sp'60min
sp'daily5
SLV, daily
Summary
What to say? Bears have again seen what seemed like an initial down cycle, rip back upward, and we're now in record territory on another headline index.
Yes, the transports and Rus'2000 small cap are still lagging, and below recent highs, but...the main market is simply ignoring it.
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VIX is trying to floor, but again, the daily charts aren't showing anything good for the bears now.
Worse of all though, the weekly index charts are back to an outright bullish trend.
Baring a break of that 1538 low from mid March, bears have nothing to look to.
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Time for lunch.
*VIX update coming...