11am update - minor down cycle

The indexes are cooling down a touch after breaking new highs. Equity bears should not get lost in any mild hysteria that 'we're done for the week'. Metals are holding gains, Oil remains weak, -0.8%. The momo stocks are all generally continuing their relentless gains.


sp'60min

Summary

Again, it really is a case of 'don't get lost in the bearish hysteria'.

A minor down cycle....nothing more. Obviously..we could in theory trundle lower for the rest of the day, but with daily/weekly cycles pushing upward....any declines will likely be very slight.
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Monthly jobs data tomorrow, a move into the sp'1750s is very likely this week.

Notable movers: AAPL, +2% @ 520,    NFLX, +3% @ 344.