Whilst the Yellen continues to talk to the US senators, the equity market is very slowly clawing upward. Considering the sig' QE-pomo this morning, the bulls are somewhat struggling. Metals are holding minor gains, Gold +$3.
So...we're higher, but not by much, but then, neither were the equity bears able to even break <1840.
It is somewhat of a stalemate, although the bigger weekly/monthly cycles are clearly still bullish.
Notable mover... JCP, +23%..no doubt, a hyper-short squeeze.
The broader trend though remains lousy. The 'concrete' retailers like JCP and SHLD both face huge incessant competition from the online retailers. Does anyone really think either will still be around after the next recession?
VIX update from Mr T
time for tea :)