3pm update - eight days up for the R2K

The R2K - having lagged for the entire year, is set for the eighth consecutive net daily gain.. having broken a new historic high of 1220. VIX is holding moderate gains of 7% in the mid 15s, but these remain subdued holiday trading conditions. Metals and Oil are both very weak.


R2K, daily

Summary

More and more are starting to realise the significance of last Friday's breakout in the R2K.

Today is the 8th day higher, with the 1300s on the way.... and beyond.

If you assume R2K 1500... then sp'2500 is the natural 'baseline upside target' for next year.

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No doubt the crash callers will be out in force across Jan/February.
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Notable weakness, GDX -2.4%... pressured by Gold -$14
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back at the close