sp'daily5
R2K, daily
Summary
So.. the algo-bots manage to wash out the stops around sp'2045/47... but the other indexes are not breaking new highs.
The two leaders - Trans/R2K, look vulnerable, with the R2K turning negative MACD cycle, for the first time since mid Oct'.
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Overall, its still pointless for equity bears to be getting involved in this... even if you believe a moderate retrace is due before year end.
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Notable strength: GDX +2.3%... $19.90s.... near the old broken floor from Dec'2013
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10.01am.. Housing market index 58.. vs 55exp.
Naturally, this 'confidence' is seen as super bullish for the broader housing market... even though a long term chart would look dire.. with very little recovery since the property bubble blew up in 2007.
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Eyes to the USD... if it turns positive today, that will be an issue... currently -0.26%...
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10.22am Notable weakness, BABA -2.8%... breaking the up trend from mid October.
10.40am.. market cooling.... no one wants to buy >sp'2050... urghhh VIX set to turn positive.