Daily Index Cycle update

The main indexes (with massive help via a large dose of QE-pomo), closed significantly higher, with the sp +23pts @ 1770. The two leaders - Trans/R2K, closed higher by 1.1% and 1.9% respectively. The mid-term outlook remains for broad upside into late spring 2014.


sp'daily5

R2K

Trans

Summary

The market giveth...and the market taketh away.

It remains a terribly nasty market for the equity bears. A Thursday fall of sp'23pts..entirely negated..and we're right back to the Wednesday closing level of 1770.

The gains in the Rus'2000 should be especially concerning to the equity bears. This was one hell of a strong rebound, and keeps the main market on track for further gains into early December.
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a little more later...