3pm update - minor chop into the close

US equities look set to close higher for the 8th day of 10. With a notable strong rebound in the R2K today, it bodes strongly for the equity bulls tomorrow. Sp'2000s look set to be hit, with 2010/20s by late August.


sp'daily5

Summary

Little to add...
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*Dow is now higher by 400pts this week... the strongest weekly gain since early April.
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3.13pm... Clown finance TV wheeling on a doomer.. McClelan this hour.

Meanwhile.. sp'1994...and a gap straight into the 2000s tomorrow is viable.

I do not expect a reversal until next week.. and even then, we might only be looking at 1.5%...and that will be from a higher level than currently.

VIX is in melt mode....the 10s are due tomorrow.
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3.18pm.. For you die hard readers out there who do like to check in with me, intra-hour...

Here is a bonus special chart...

Dow, monthly2', rainbow

First green candle since last December... bodes for further upside in September.
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3.25pm.. Notable strength, DRYS, +3.8%... but more on that one after the close.. on my other page.

*not the best of days for the gold bugs...with miner ETF of GDX -2.3%