sp, monthly, rainbow
Summary
The primary trend remains outright bullish.
The remaining doomers out there clearly need a close under the 10MA - currently 1345. However, they sure are not going to get remotely close to that, even if the Bernanke announced this Friday 'no more QE...I'm done with it'.
Best bear outlook for this Friday is a close somewhere in the low 1380s, but even that is something of a distant hope right now.
So, it seems clear, we'll start September still in a broadly bullish trend. All the doomer chat of 'autumnal doom' is currently to be dismissed, until we start putting in some lower highs and lower lows - as seen on the daily index cycle charts.
Tuesday should be at least a little more dynamic than today.
Goodnight from London