12pm update - continuing gains

The market is generally pleased with what the Yellen has said so far today. The mainstream is again realising that QE could continue for some years..rather than months. Metals look toppy, after early gains, Oil is back to flat.


sp'60min

GLD, 60min

Summary

New highs in the Dow, SP, Trans.

*yes, the R2K is a touch weak, but I don't think it matters too much.
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The sp'1800s look a given within the near term. Certainly, even I don't expect the 1900s in the 'near term'..but next spring...yes.
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VIX update from Mr T.



time for tea :)