Tuesday 26 August 2014

Daily Index Cycle update

US indexes started the week on a positive note, sp +9pts @ 1997 (new historic high 2001). The two leaders - Trans/R2K, settled higher by 0.3% and 0.4% respectively. Near term outlook is for sp'2010/15 before a minor down wave.. probably beginning Wednesday.


sp'daily5


Dow


Summary

Little to add.

New historic highs in the Dow, Trans, and NYSE Comp' look likely within the near term. Only the R2K remains stuck, some 4.5% below the July high of 1213.
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a little more later...