Daily Index Cycle update

The main indexes closed with some interesting gains, sp+11pts @ 1786. The two leaders - Trans/R2K, closed +0.9% and +1.2% respectively. Once the FOMC is out of the way, the market should be breaking to new historic highs...all the way into mid/late January.


sp'daily5

R2K

Trans

Summary

So..a close in the mid sp'1780s, and with the two leaders similarly higher, Mr Market has started the week with a somewhat interesting gain.

Yet, until the FOMC is out of the way, everything will likely remain somewhat choppy.

Unlike last December where Mr Market was increasingly anxious about budgetary issues, this year..there really isn't much to stop another up wave, especially in early January.

a little more later...