1pm update - market grinding the bears to dust

Far from cooling after morning gains, the market continues to claw upward... now pushing for a daily close in the sp'1930s. That makes a hit of the 50dma, upper daily bollinger, weekly 10MA, and the 50% fib retrace of the down wave from Nov'2015.. now viable before the weekend. Incredible.


sp'daily5b

sp'weekly6

Summary

Well... a third day of gains is now a given... the only issue is whether we close in the 1910s, 20s... or 30s.

For those resolutely holding short.. this is obviously getting extremely painful.
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notable weakness... TVIX, daily

As the VIX has cooled from 30 to the 22s, TVIX has now declined from $13.58 to the upper 9s, a decline of roughly 30% in just 3.5 days. The low 8s look viable.
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back at 2pm.... when the latest FOMC mins will appear.