Closing Brief

US equities closed moderately higher, sp +5pts @ 2115 (new historic high 2117). The two leaders - Trans/R2K, settled higher by 0.4% and 0.2% respectively. Near term outlook offers a retrace to the 50dma... but for now.. price action offers zero sign such a retrace has even begun.


sp'60min

VIX'60min

Summary

*I'm tired... so this will be brief.
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Suffice to say... as the overly loud Mr Carboni might say... '.. a new high is a new high'.

Without question... this market is again displaying its underlying hyper-strength. Yes, there is resistance in the current sp'2110/20s...and on the monthly cycle in the 2150s.... but regardless... the market is grinding higher.

Even a retrace to the 50dma will do nothing to the short, mid, or long term upward trends.

Here is a thought.... we have another few hours of the Yellen tomorrow morning... gods help us all.

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A daily wrap at 8pm EST