12pm update - minor chop

US equities are seeing some minor price chop, but the underlying pressure is absolutely still there. Daily/weekly charts are offering sp'1905/10 in the immediate term..with the 1920s not viable until next week. Metals are broadly flat, whilst Oil is higher by 0.7%.


sp'weekly8b

Summary

*I have little interest in the smaller time frames right now, and will stick to highlighting the bigger cycles.
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So...we have now seen new historic highs in the Trans, Dow, and SP'. Even if we do battle higher for another 2-3 weeks, I find it difficult to envision new highs in the R2K/Nasdaq.

Regardless, I won't be shorting this market for some time..probably...weeks.
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VIX update from Mr T.



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time for lunch
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12.04pm.....R2K is lower..-0.9%....kinda interesting..but still. that is merely a buying level...I'd almost be tempted myself..


12.15pm... LONG, via IWM..from R2K @ 1124.