sp'60min
vix'60min
Summary
More than anything, I just can't expect much of today.
There is ZERO reason why the market will see price action of any consequence today. In many ways.. most should turn off their screens... and come back tomorrow morning!
10.01am.. Consumer confidence 90.9... the best since Oct'2007... when the market was peaking some 400pts lower.. in the 1570s.
...and that number should rattle the retail bears.
10.10am.. R2K making a play for the 1150s today... and yesterday's daily candle would make for a reasonable spike floor/re-test of the 1130s.
First upside remains 1170.
Any weekly close >1170.. and the sp'2100s.. etc.... would all remain on track.
10.33am.. Sp'500 a mere 7pts from breaking a new high... that is just 0.3%... reflect on that.
R2K looking good for the 1150s.
Regardless of any latter day 'weak chop'... the issue is tomorrow.
Based on everything I see... we'll see net weekly gains.