3pm update - a close in the 1850s

The sp'500 looks set for a historic close in the 1850s. The two leaders - Trans/R2K, are similarly higher, and will probably be breaking new highs in the near term. Metals continue to hold sig' gains of around 1%. VIX is merely melting lower in the 14.25/13.75 zone.


sp'60min

Summary

*the hourly charts are offering a baby bull flag, with upside into the 1865/70 zone by Wednesday.
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Just another day for the bull maniacs. Tomorrow will likely be much the same.

Notable weakness: UGAZ -18%... intraday low -27% or so, which is one hell of a swing from pre-market gains of +7%.
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3.15pm.. a micro pull back..market probably just wants to re-test the old 1850 high..before the next wave into the 1860/70s.

Absolutely no reason why any bear should be getting even marginally excited about the last few hours. VIX is telling the story...a fearless market.
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3.33pm.. market testing the 1850 area...fractional break to 1849, not that it matters. 

3.45pm...you can see how 1850 is again a key level. Regardless of the exact close..we didn't close lower, did we?   back at the close.