12pm update - just another QE day

A very frustrating end to the week for those on the bearish side. The main indexes are all moderately higher, lead by the Transports and R2K , the latter of which is 7pts away from hitting the psy' level of 1000. Metals are still weak, but Oil is holding gains. USD is strong.


r2k, daily

USO'60min

Summary

*oil is a tricky one, opening black/fail candle...then downside..but you can see its already trying to floor. Weekly oil chart now very bullish for the summer.
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As for the indexes, with the POMO money out there today, no reason why downside is possible. Hourly index charts even offer a weekly close in the sp'1670s.


VIX update coming...