2pm update - new highs in the sp'500

Another new high for the Sp'500 and the Dow. Trans/R2K are lagging a little today, warning of possible weakness on Bernanke day? Oil is weak, precious metals are holding together, although are both still lower on the day.


sp'60min

Summary

So..sp'1674s....its a scary thought that the 1700s are now less than 2% away, which is easily viable on a strong up day.
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I am content on the sidelines again. Oil/Silver long might be an interesting trade tomorrow. Like Oscar though, I am concerned of weakness into the holiday weekend.


*I forgot to highlight this earlier...



Seems a few are buying disaster protection in the June 55s, which even to me, seems ludicrous.