US markets open mixed, but with a notable new historic high of sp'2048. Metals are higher, Gold +$6.. but cooling as the USD is trying to claw back higher. Energy is weak, Nat' gas -1.3%, whilst Oil -1.1%.
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'.
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.
Notable strength: GDX +2.3%... $19.90s.... near the old broken floor from Dec'2013
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.
Eyes to the USD... if it turns positive today, that will be an issue... currently -0.26%...
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.