Daily Index Cycle update

The main indexes settled moderately higher, with the sp +4pts @ 1842. The two leaders - Trans/R2K, closed higher by 1.2% and 0.5% respectively. Near term outlook is for the market to battle higher to the 1860/80 zone by end January, before a minor 3% drop into mid February.


sp'daily5

Dow

Trans

Summary

Little to add. We have clear bull flags on most of the main indexes, and market looks set for a further 2-3% into end January. As is often the case, the 'old leader' - Transports, is leading the way higher.

That's all for this week, thanks to those who commented this week, if only to say hello.

Goodnight from London
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*the weekend post - late Saturday, will be on the US monthly indexes
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Video from Schiff - an imaginary recovery does not create real jobs



Indeed.  I just wish Schiff would quit the 'dollar doom' nonsense talk.The USD will be one of the last to fall, there are plenty of other currencies that will first catch fire, namely the Euro and the Yen.