2pm update - grinding higher

With the R2K set to break through into the 1180s, and the sp' set for a daily close somewhere in the mid 1940s, equity bears are being ground down once again... to dust. VIX is in melt mode, -3% in the low 12s, with a likely return to the 11s tomorrow.


R2K, daily

Summary

Suffice to say.. a bit of a mixed day for the broader market, but a lot of the high beta names are seeing pretty strong gains.

The sp' looks set for the 1950s tomorrow..whether we can just keep grinding higher into quad-opex this Friday.. 1960/70s..or see a retracement..difficult to say.
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Regardless.. I hold long.
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Notable strength: SCTY, +16% or so..with another 5-10% to go.
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