Daily Index Cycle update

With the jobs data coming in better than the mainstream expected, the US market rallied into the weekend with gains of around 1% for the Dow, SP, and Nasdaq, and 1.5% for the Trans/R2K. Today was a very clear bullish breakout after earlier weakness in the week.


IWM

Dow

SP

Trans

Summary

The bears can detail the underlying status of the US employment picture all they like, but it doesn't matter. The market simply does NOT care about the macro-economic picture right now.

The Fed is doing just enough QE to placate the market, and we're now back to cruising steadily higher. So long as the trading volume remains low, the algo-bots are going to be able to melt this market higher across the next 3-4 months.

I am now dismissing all those hopes of downside across May.
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That's all for today, and the week.

Have a good weekend.
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*next main post, late Saturday, which will probably be on the US monthly index charts.

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 Bonus video to end the week, from Oscar Carboni...

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..just something to think about, especially for Gold/Silver.