US indexes open with some minor chop, although it is notable that the sp'500 and Transports both break new historic highs. With next to zero downside pressure, Mr Market looks set for net daily gains.
Opening hourly candle...a new high, then a reversal...but still...price action remains very strong.
So...a bit of chop, but that is expected. There is a wheel barrow of QE due this morning (and tomorrow)... who would dare be short this?
Ohh, and as for more planes being shot down in the Ukraine. For now... it is entirely irrelevant.
*I hold moderately long, R2K, from 1154... seeking the 1170s before end of this week. Seems a viable target.
Notable strength: airlines, DAL +3.2%... breaking out of what is a giant bull flag....
Mid/upper 40s look due later this summer
10.25am.. R2K making a play for the 1160s.. .which will open up 1170s late today..or tomorrow.
VIX is in melt mode, -3% in the 11.80s.
10.37am.... entire market...pushing higher...VIX getting seriously crushed, -6% in the 11.40s...10s look an easy target.