3pm update - new highs for the headline indexes

With the bears still utterly powerless, we've now seen the Dow and Sp'500 break to new highs. The one remaining bearish aspect is that the two original leader indexes - Trans and Rus'2000 remain well below their highs. VIX is back in the 12s, with the precious metals holding gains.


sp'60min

trans'60min

IWM'60min

Summary

So...what now?

We've got the two big headline indexes breaking to new highs..and there is NO sign of this ending. Sure they are now arguably overbought, yet a new high..IS a new high..and that sure ain't bearish.

*Poster HighRev notes the A/D ratio, of 1/2 today, which sure ain't supporting the current mild hysteria out there.

As it is, I clinging to the fact that the two indexes that lead the way up - Trans/R2K, are still well below their highs..and look like a 50% retrace...at least so far.
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updates..into the close...

Rather than watch clown channel in the closing hour..why not instead see a little talk from the Schiff?



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3.10pm..is the VIX finally done? Its amazing to see it this low....again.

For the TVIX, and other VIX long holders...difficult day, but perhaps..its floored.
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3.25pm..it remains ironic that despite the ramp, the SP' has still failed to break the Oct'2007 high of 1576.

3.35pm...is that it..finally?

A double top on the sp @ 1573...whilst the leader indexes Trans/R2K failed to claw back more than 50% of wave'1 down. hmmm

3.42...VIX looks like it will be closing in the low 13s.

back at the close.