Wednesday, 21 August 2013

Daily Index Cycle update

The main indexes closed generally to the upside. The sp' settled +6pts @ 1652, whilst the Dow was fractionally lower. The two market leaders - Trans/R2K, closed with much stronger gains of 0.9% and 1.5% respectively. Near term trend looks bullish to the sp'1680s.





Summary was a somewhat mixed day, but generally, the bulls are starting to push back higher.

Once again, the two market leading indexes - Trans/R2K, are indeed leading the way, and despite weakness in the Dow, I'd have to guess the market will rally for a few more days.

a little more later...