sp'daily5
R2K
Trans
Summary
The market closed the week in a relatively quiet state, despite a closing hour appearance by the US President. The market is obviously looking for a resolution to the potential Govt. shutdown.
The primary trends remain to the upside, and based on the past few years of trading action, I have to assume the market will simply break back upward to the upside some time next week.
Lets be clear, the bears have seen the sp' decline for 6 of the last 7 trading days, and that has only achieved a decline from 1729 to 1691...a mere 2.3% or so.
That is simply not good enough, and once the bulls do manage to turn the market back upward, they'll be more than capable of breaking new index highs.
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a little more later..to wrap up the week