Friday 6 June 2014

Closing Brief

US indexes closed the week with the third consecutive daily gain, sp +8pts @ 1949. The two leaders - Trans/R2K, settled +0.9% and +1.0% respectively. Near term outlook offers minor chance of a retrace, with the bigger weekly/monthly charts powerfully bullish.


The Longest Day, 6/6/44

Summary

... and another week at the worlds most twisted and pumped up casino comes to a close.

Effectively, the bulls continue the ramp from the April'11 low of sp'1814...now over 130pts lower. For those still seeking a major multi-month down wave - which still includes me, this remains a difficult... and exasperating wait.

..but hey..at least I'm not short. I will be there...when the turn eventually occurs.

Have a good weekend everyone.
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*the weekend update will be on the US monthly indexes