sp'daily5
R2K
Trans
Summary
Yes, the R2K saw considerable weakness in late morning... but then...with new historic highs in two indexes.. equity bears can't get in the least bit excited about things.
There is zero reason why the market can't keep on clawing higher.. at least to the sp'2110/30s... before a moderate pull back.
The only thing that is holding the market lower than it otherwise would be... the energy sector... but then lower energy prices are bullish for the rest of the economy. In the bigger picture, its a small trade off.. nothing for the equity bull maniacs to be concerned about.
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a little more later...