Wednesday, 20 February 2013

Daily Index Cycle update

Another very bullish day for the US equity market. The Trans/Rus'2000 indexes hit new historic highs, the sp' closed in the 1530s, with the dow in the 14000s. There is no sign of any weakness, near term trend remains higher, supported by the bigger weekly/monthly cycles.

IWM, daily


Trans, daily


Another week begins with slow motion algo-bot melt higher. The close was pretty strong, and the bulls could even look for a moderate gap higher tomorrow.

Maximum downside right now would likely be 1490..which is of course entirely laughable.

It does look like the sp'1600s are a given by April.

A little more later.