Closing Brief

The main indexes closed a touch lower. It was another moderately higher week for most indexes, primary upward trend continues.  Perhaps most notable today was the fall in the USD, which might fall across much of next week.


sp'60min

Summary

For the bears, its been another weak of pain, but then, thats largely been the case for the last four years.

I still expect the market to complete a major multi-month wave by the end of next week. The big issue will be just how far down can we go in the next wave. I'm guessing it won't be much, and unless the Fed stops the POMO program, this market is headed for the 1700s..and 1800s by year end.

Have a good weekend