US equities are building moderate gains, with the sp'500 a mere 0.3% away from breaking a new historic high. Meanwhile, yesterday's daily candle in the R2K is offering a rather attractive spike floor.... the 1170s remain first upside target.
Again, I have to note, we could easily see some minor weak chop this afternoon... as Mr Market merely churns ahead of tomorrow.
As for the R2K...
Yesterdays candle does look pretty good as a test of the 1131 low - from over a week ago. A daily close in the 1150s.. today or tomorrow.. with 1170s viable by late Friday.
*I remain moderately long, via the R2K.
Transports, -0.5%... lower for the fourth consecutive day... but more on that later...
11.10am... pretty sharp turn..... washing out the day-trading bulls....
First support around 1970.
Its all minor chop though..still within the 1990/50 zone.
11.25am... minor chop.. teasing the bears...ahead of tomorrow. At best, bears could test the low 1960s... worse.. a gap straight into new historic territory Wed' morning.
VIX set to close today red.
11.32am .. NEWS update... EU places more sanctions against Russia.
...they seem to forget where the Nat Gas comes from... and that 'winter is coming'.
Idiot bureaucrats... but not surprising.
11.35am.. Looks like Mr Market wants to wash out as many of the bulls..ahead of tomorrow.
Barring a break <1960... none of this is to be taken seriously.