2pm update - Dow is the one to watch

With the November monthly close giving a clear breakout - from a six month tight trading range, the Dow is giving the clearest trading signal. There is December upside to 16400/600, with 17000/500, by late spring 2014. With QE set to 'largely' continue across 2014..bears face major problems.


Dow' monthly

Dow'daily

Summary

..ignoring the minor wave nonsense today...and keeping in mind the grander cycles.

The November close for the Dow was indeed particularly impressive, and was the clearest warning that December will likely give some follow through to the upside.

Right now.. a Dec/year end close in the 16400/600s looks viable.
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Notable weakness in the momo stocks.. FB, NFLX, TSLA, TWTR.. all somewhat lower. Even AAPL is -1%..although that is hugely up recently..so..its possibly just cooling down. 


2.32pm.. Dow holding 16k... sp'1800s.. Nasdaq.. broke a new post 2009 high earlier...not that many noticed!