1pm update - hourly spiky tops

US indexes are still holding the gains, but on a micro scale, there are some signs that we're stuck..at least for a little. Metals remain a little weak, Gold -$5. Oil is similarly weak, -0.2%.


sp'60min

Summary

Well, with two key new highs today, it sure isn't bear weather.

At best...equity bears should hope for a daily close back in the 1970s, but even that looks difficult, not least if the algo-bots want to front run the Wed/Thursday QE.
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Notable weakness: NFLX, -5.5%, despite earnings that were more than reasonable.

*again, for those looking for downside, eyes to the VIX..but that is still a good 6.7% lower.

yours.. a mere watcher
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1.29pm.. toppy chop...continues.

Worse case for the bears... price chop in the 1986/75 zone continues across Wed' morning...and then up again.

Certainly, the R2K/Trans would support that outlook.
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