Thursday, 7 November 2013

Daily Index Cycle update

The main indexes closed very mixed, with the Dow +128pts @ 15746, whilst the two leaders - Trans/R2k, both closed weak, -0.7% and -0.45% respectively. Near term outlook is for more minor price chop/consolidation, before the next move higher, into the sp'1800s.





It was a bit of a mess today in market land. Many - not least the cheer leaders on clown finance TV, were bemused to see the Dow +100pts, whilst the Nasdaq was red.

However, the Dow has been lagging for many months, and this is arguably just a case of 'playing catchup', which could itself last for some weeks..even a few months.

There is simply nothing significantly bearish due in the near term.

A little more later...