12pm update - new high for the old leader

The 'old leader' - Transports, has broken a new high this morning, and it certainly bodes reasonably well for the equity bulls (not least with more QE fuel tomorrow). Equity bears look powerless, and Mr Market appears in melt mode...first upside is sp'1895 or so.


Trans, daily

Nasdaq daily

Summary

Little to add, on what is turning out to be a day of upward melt.

*notable strength in the tech, with the Nasdaq close to a breakout. AAPL looks strong, with viable near term upside to 615/20.
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VIX update from Mr T.



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stay tuned.