Daily Index Cycle update

A very quiet Monday for the US market, with the main indexes closing largely flat.There is simply no sign of the broad upward trend ending. Even a move down to the sp'1470/60s would do no damage to what remains a powerful multi-month move higher from the post election low of 1343.


IWM

SP

Trans

Summary

A pretty dull Monday, but then...aren't they usually that way?

There is little to be said, other than the primary trend remains UP.

What should make the bears thoroughly despondent right now is that the underlying MACD (blue bar histogram) cycle on the daily charts is already negative.and looks like it could be flooring!

There is the very real possibility of a 7-10 day up cycle to begin as the week progresses.

*huge POMO of 5-6bn this coming Thursday, and it will be interesting to see if this Valentines is indeed a massacre for those on the short side.

A little more later