12pm update - awaiting a retrace

US equities are holding moderate gains, with particular strength in the Transports, +0.7% in the 7700s - an almost unthinkable level, one year ago. Metals are holding gains, Gold +$12. Oil has swung from early weakness of -0.5%, to now +0.2%.


sp'60min

Trans, daily

Summary

With a break to new historic highs, a retrace might simply not occur for some days..yet there is a small chance.

Regardless, if we don't slip back to 1870/65, I'll simply sit back and watch this nonsense push into the 1900s. I won't chase it higher in the 1890s.
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VIX update from Mr T.



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time for tea...