12pm update - the weak weak weak... R2K

Whilst the headline indexes are holding much of the morning gains, there is (yet again) notable weakness in the R2K, which has already turned negative. If the market has maxed out in this hourly up cycle...this afternoon could be a real train wreck.


R2K, daily

sp'60min

Summary

*I was stopped out of my R2K index longs, at IWM 109.30. Frankly, I'm glad to be out. Price action has been a real disappointment.

I suppose there is still a chance that the recent spike-floor candles are indicative of a renewed push higher..to 1170/80..but....really....how many chances do the equity bulls get?
-

Right now...a break under the hourly 10MA of sp'1877 or so..would bode for a 'bad' afternoon for the bulls.

-
VIX update from Mr T.



--
time for icy drinks....as the storm clouds approach the city.