1pm update - the two leaders are weak

Whilst the Dow is holding gains of 100pts or so, the two leaders - Trans/R2K, are both lower by around 0.5%. There is certainly some weakness out there, but equity bears are still lacking any real downside power. Oil continues to build significant gains, +1.8%


R2K, daily

Trans, daily

Summary

I guess it is somewhat an interesting day.

We have the Dow trying to make a clear break..and hold new historic highs, but there is distinct weakness in the two leaders.

As ever...with sig' QE, bears face the old problem of underlying upward pressure.