Daily Index Cycle update

The main indexes closed the week on a moderately bullish note. This is especially impressive considering the USD has climbed into the mid 82s.  With the VIX seemingly now starting another multi-week period of decline, the bulls should be reasonably confident about March.


IWM

SP'daily5

Trans

Summary

A choppy day to end the week, and there is no doubt..the bulls can claim it as yet another victory.

Underlying MACD (blue bar histogram) cycle ticked higher for a third day. We could easily tick higher for another week or two..and that will comfortably get the market into mid March.

Primary upside target is sp'1550/60..which probably equates to Dow'14500...well above the Oct'2007 high of 14178.

That's all for today..and the week.

Goodnight from London
--

*next main posting, late Saturday, on the World Indexes