Thursday 19 September 2013

Daily Index Cycle update

The main indexes soared after the Fed announced it will be maintaining QE at $85bn a month. The sp +20pts @ 1725, a decisive 16pts above the recent high. The two leaders - Trans/R2K, closed +1.5% and 1.0% respectively. Outlook into October looks extremely bullish.


sp'daily5


R2K


Trans


Summary

Well, the daily closes on all the indexes was extremely bullish, not just for the rest of this week, or month.. but surely also into October..and possibly....even all the way into spring 2014.

Yes, there are 'issues' out there, but with QE continuing, the market is going to be able to battle 'broadly higher' for months to come.

Lets be clear, the hyper-bullish outlook which I posted many months ago..is still on schedule - to my own dismay.

Sp'2000s..next spring...look a very comfortable target.

*I remain on the sidelines, and have no intention of launching any index shorts for weeks..if not months.
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a little more later...