Daily Index Cycle update

The main indexes climbed on nothing less than algo-bot low volume melt, and this concluded what was a classic holiday reversal week. The sp' closed less than 1pt away from the base of my re-short target zone of 1410/25.


IWM

Dow

Sp'daily5

Trans

Summary

A pretty stupid day it has to be said, in market land. Very light volume, and so the algo-bots were left to it, and merely did their usual nonsense.

From a MACD (blue bar histogram) perspective, we're now storming higher on the SP, Dow, R2k, but we're not even + cycle on the transports. There is a very likely 2-4 days higher yet to come.

Suffice to say, I am glad I decided to sit this week out.  I'll be back hitting buttons next week.

Best guess remains, we'll max out next Thursday, look for a reversal/spiky candle at that time.

A little more later.