Daily Index Cycle update

The main indexes broke new historic highs, with Dow 16000s, and Sp'1800s. There was some distinct latter day weakness, with the sp -6pts @ 1791. The two leaders - Trans/R2K, settled -0.3% and -0.8% respectively. 


sp'daily5

Dow

Nasdaq

Summary

The recent break into the 15800s for the Dow was a clear sign (at least to me) that this market has a lot of steam left in it.

Equity bears face relentless support via the fed, and despite any minor down waves in the coming days..and weeks..broad upside is still expected into spring 2014.

Frankly, I'm tired of the doom. Call that a contrarian indicator all you like, but hey..didn't we just break new index highs today?

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Video update from Mr Riley



a little more later....