11am update - the powerful R2K

Whilst the sp'500 hits a new historic high of 1971, the real action is in the R2K. Having floored in the 1080s in early May, it is now some 11% higher..and looks set for the 1275/1300 zone in August. For the equity bears out there, this remains a terrifying index.


R2K, weekly

Summary

An incredibly powerful ramp from the 1080s, but then...it was expected.. not least after a series of very clear floor spikes - seen on the daily chart.

Monthly chart is offering the 1270s, and in August that will have risen to around 1300.
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Notable strength: NFLX, +5.7% @ $465.. and headed for the big $500... no doubt.


11.36am.. sp'1974... rough day for the bears...and Yellen is due tomorrow.