1pm update - powerful gains for the R2K

Equity bears are getting ground into dust, with the sp' already in the 1940s, and the threat of VIX 10s before the weekend. The R2K is powering higher, +1.8% on the day. The big issue is, will the R2K get stuck in the 1170/80s, or keep pushing into the 1200s..and beyond?


R2K, weekly'2

Summary

So...not only did we break the 1930 level, ....but here we are.. 1940s.. a mere 3.2% away from the giant 2000 threshold.

Weekly charts - taken as a whole, offer another week or two higher..which will take us into the FOMC of June'18, when QE'taper 5 will surely be announced.

Actually, bears should hope taper is NOT done, since it would give the market a bit of a scare, at what would be an arguably spooked fed.
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So..R2K, H/S formation...

I'll keep it in mind, unless we break much above 1190/1200..after that..the scenario would get dropped.

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