sp'60min
R2K, daily
Summary
*the ramp in the R2K is particularly disturbing. One down day..and we're almost back to where we started. Equity bulls need to clear the 10MA around 1100 though.
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Arguably, sp'1665 is the last line for the equity bears to start waving the white flag.
Same old problem....QE. Urghhhhhh
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*I am hearing renewed talk about Fed taper in mid-December, but that makes zero sense. A policy change ahead of the Bernanke leaving..very unlikely. If the Yellen monster is in command, then first taper op'.. next March/April...if ever.
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1.30pm.. sp'1764/65...well, we're about white flag waving time for the bears. Still over two hours left of the day, but really..the move in the R2K is now 2.0%, an incredible rebound.