Friday, 22 November 2013

Daily Index Cycle update

The indexes closed with moderate gains, with the sp +14pts @ 1795. The two leaders - Trans/R2K, closed +1.1% and +1.8% respectively. Near term outlook is bullish into next week..upside target is the sp'1815/25 zone. VIX 12s, confirm a fearless market into next year.





Whilst the headline indexes were only moderately higher, it is highly notable to see the two leaders up so strong. The 1.8% gain in the R2K is pretty incredible, and we're on the edge of breaking new historic highs in the R2K. Weekly charts offer upside to the 1150/75 zone in early December.

As for the sp'.. upside target is 1815/25..which seems very viable across the next 1-2 weeks.

Equity bears...haven't a hope until next month, and even then, downside at best...3-4%.

a little more later...