Friday 6 April 2012

Primary Cycle...still UP

This is something every doomer out there should stare at for at least an hour sometime this 3 day weekend.

IWM, monthly, bullish outlook


The Rus'2000 index is still lagging the Sp'500, and especially the dow, but the trend remains up.

From a MACD cycle perspective, I am looking for a smaller tower/block to form in the coming 2-3 months, and then rollover. From a price perspective, I'm still looking for a break over the key level of 86...and then peak somewhere in the region of 90/92..within a few months - this would equate to sp'1550 by June/July.

Such words will not be pleasing to any of the doomers out there, but for the moment, the trend is indisputably STILL up.

Unless the jobs data - or other weekend news event/story upsets the main market, the IWM 81/80 level will hold, and we'll soon snap up to 86..and a significant break through to even higher levels.

Goodnight.