Daily Index Cycle update

A quiet end to the week, aside from a brief little minor decline in the afternoon, which as usual...was largely recovered by the close. The primary trend is strongly higher, although a few of the indexes are starting to look very tired...especially the Dow.


IWM

Dow

SP

Trans

Summary

There were new highs for the Transports..and Rus'2000..yet again....it remains a relentless grind higher, and there is still no sign of it ending.

For the bears, there are a few tiny signs of an exhausted bullish market. The Dow looks really stuck just under 14k. A retracement to 13800/700 would be entirely natural, and would do no damage to the primary trend.

A more significant retracement looks as distant as ever. Bears need something to spook this market, but from where could that come from?

Goodnight from London
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*next posting, late Saturday, on the US weekly index cycles