2pm update - new highs

With the market only opening a little lower, it was never going to be particularly difficult for the bulls to push higher.. and we have a new historic high of sp'2101. The R2K and Nasdaq are similarly in new territory. Despite the gains, VIX is holding moderate gains of 6% in the 15.60s.


sp'daily5

vix'60min

Summary

*yes, there are numerous reasons why the VIX will likely close net higher today.. despite the equity gains, but until we're back in the 17s... all the moves are of little importance.
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So... after a few months of waiting, we finally have the sp'2100s. No doubt, a huge number will start to top call across the coming days.. and weeks. Such people will entirely refuse to acknowledge the coming EU QE-pomo program, nor the capital flows into the US. I suppose at least they are consistant.. in their denial.

A minor equity retrace still looks viable... but that is all it will surely be.
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Notable weakness, GDX -2.8%.. pressured by Gold -$20