1pm update - selective cooling down

The broader market is largely flat, but there is some distinct cooling down in various stocks, as especially reflected in the R2K, -0.7%, but still a full 45pts above the critical floor of 1080. Metals remain weak, Gold -$6, although there is threat of a minor bounce into tomorrow.


R2K, daily

Summary

It remains a difficult time for many on the bearish side, even those who are refraining from launching any new positions.

Short here...but with real risk of 1920s..if not the 1940/60 zone by mid June.
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For me, I'm content to do nothing. If the market drops significantly tomorrow morning on the 'scary' GDP data...I might buy into that though.

Upside for R2K looks to be at least 1170/80..and that is a good 2.5% higher.
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