IWM
Sp'daily5
Trans
Summary
So despite a little bit of bearish hysteria on Thursday, the market closed the week on the upside. Bears can understandably feel annoyed and frustrated, but then, that's been much the case for the past four years.
Best guess remains a brief spike higher into the sp'1570s next week, and then I will be looking for some kind of choppy top to form. That could take some days, perhaps even a few weeks.
However, I sure don't expect earnings season for Q1 to be 'inspiring', so we should be seeing a multi-week down cycle becoming obvious by mid April..and continuing into May.
That's all for today..and this week. Have a good weekend!
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*next main posting, late Saturday, on the US weekly index charts