sp'daily5
VIX'daily3
Summary
US equities opened in minor chop mode. Cyclically, the s/t setup always favoured the bulls, and the market duly leaned upward into the afternoon, with notable sig' strength in the Transports.
With equites pushing upward, volatility was naturally ground lower for a third day. The 9s are clearly viable into the weekend. Something to consider is that the 8s, even the 7s are possible by year end.
I recognise some of you are still seeking some kind of mid/long term top, but I sure don't see it any time soon. Sp' 3K seems a given, as early as next spring. If certain stocks break certain thresholds (such as INTC >52), along with sp'3100s, then you can add another 800/900pts to around 4k. T-15 trading days left of the year.
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