1pm update - the two leaders are leading

The two leading market indexes - Transports/Rus'2000 small cap, are leading the way higher, both are higher by around 0.9%. This is day'3 to the upside for both indexes, and they offer a clearer price structure, than other indexes. New highs..look probable..post-FOMC.


R2K, daily

Trans, daily

Summary

Regardless of how you might like to count this nonsense..the primary trend remains up.
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I sure saw a lot of doomer talk this weekend, where are those posters now?

Where will they be, if sp'1800s, after the FOMC announce no-taper this Wednesday?
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Perhaps, more than anything, it remains bizarre at those bears who are still touting an imminent multi-month..even multi-year top!  After two years of near straight up ramp, you'd think they'd at least wait for a month or two of chop.


1.20pm.. sp'1782...resistance last Thursday..should be support this afternoon.

Considering the QE money sloshing around out there today, a close in the 1790s..still very viable.