Friday, 18 October 2013

Daily Index Cycle update

The main indexes generally closed with further gains, the sp +11pts @ 1733. Near term trend remains to the upside, and with the debt ceiling issue pushed out until Feb'2014, the market looks set for much higher levels. The R2K in the 1200s would likely equate to sp'1850/1900.





The market just keeps on pushing higher.

The daily up trend is further supported by the weekly and monthly cycles. Frankly, everything is now almost entirely bullish.

With the QE fuel of $85bn a month continuing, and likely to last across much of 2014, the market looks set for the sp'1800s, possibly even the 1900s before year end.

a little more later...