Saturday, 6 July 2013

Daily Index Cycle update

The market saw some pretty strong chop to end the week. Yet, despite morning weakness, the market powered higher, with the sp' putting in a very important daily close above the 50 day MA, settling +1% @ 1631. Next week looks set for further upside into the 1650/60s.



Suffice to say, a very bullish end to the week, and the bulls are firmly back in control, and even the weekly charts are turning back to a bullish outlook.

There looks to be very significant risk of a Monday gap higher, right into the 1640s, and that will offer 1650/60s by Wed/Thursday.

a little more later...