Normal service continues

US and world equities continue to relentlessly battle upward into year end. Equity bears haven't any hope of significant downside for some months to come. Best guess remains...an intermediate multi-month top - forming in late spring/early summer 2014, and then a 17/22% index decline.


sp'monthly'8 - QE periods

sp'monthly'3, rainbow

Summary

With the Fed continuing to throw $85bn at the US capital markets, the underlying pressure in equities, remains strongly to the upside.

RE: Dec' fed taper talk

There is again increasing talk from some that the Fed would consider cutting QE at the FOMC of Dec'18. That makes zero sense to me. There are plenty of reasons why this won't happen, the least of which is that the Fed won't change policy until Bernanke is out the door.

Right now, there appears zero chance of QE being reduced (if only temporarily) until next March.


...and that.. concludes another week.

Have a good weekend.
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Video update from Carboni..



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*next main post, late Saturday, on the US weekly indexes