11am update - battling away

US indexes are battling pretty hard this morning, especially in the R2K, which looks set to break back into the 1180s by late Wednesday. Metals have recovered from the earlier low (Gold -$12)...with Gold now -$2. Meanwhile... Oil is relatively flat, despite the continued Iraq chatter.


R2K, daily

Summary

*minor down cycle underway... hmm
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Suffice to say... the trend is to the upside, and although things could be largely churn until the FOMC announcement tomorrow afternoon, I just can't see any hope for the bears.

The minor opportunity of a bear flag, is likely off the agenda..as again suggested by the R2K.
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Notable strength: Solar city, (SCTY) +11% @ $60s, and looking set for 68/70 in the near term.