Tuesday, 13 May 2014

Daily Index Cycle update

US indexes closed significantly higher, with new historic highs in the Dow and Transports. The sp' settled +18pts @ 1896. The two leaders - Trans/R2K, closed higher by 1.9% and 2.4% respectively, Near term outlook remains bullish into the sp'1910/20s.





So..the week has begun in arguably the best manner possible for the equity bulls. We have all indexes pushing higher, with breaks of declining resistance/trend on the R2K/Nasdaq.

There looks to be at least a further 2-3% higher for the big indexes, with perhaps 3-5% higher for the R2K/Nasdaq.

a little more later...