Friday, 20 December 2013

Daily Index Cycle update

The main indexes saw a day of consolidation, with the sp -1pt @ 1809. The two leaders - Trans/R2K, closed unchanged and -0.7% respectively. Near term outlook is very bullish, with a weekly close in the sp'1820s looking very viable.





The weakness in the R2K is kinda interesting, but really, its only minor, and with the Dow breaking a new historic high today, I don't place any importance on the R2K decline.

Broader trend remains strongly to the upside.

Year end target remains, sp'1830/50, with Dow 16300/500s

a little more later...