1pm update - something to stare at

US equities continue to build gains, with a new historic high for the Transports. Dow looks set to follow this afternoon...with the sp' tomorrow/next Monday. It remains a market where there aren't too many buyers, but where the equity bears look exhausted..even for the R2K/Nasdaq.


Trans, weekly

Dow, weekly

Summary

...all equity bears should spend the next hour staring at the above two charts..not least the Transports...they don't call it 'old leader' for nothing.
--

So..a new high for the tranny, with the Dow seemingly due to break a new high this afternoon. If that isn't enough to clarify the broader trend, I'm not sure what else is necessary.


1.14pm.. RIG still falling...next support.. 41.50 or so.. but that is another 1.5% lower....bizarre day for that one, despite good numbers.


1.25pm.. minor down wave..market should level out around evens... 1878/76 zone.