Daily Index Cycle update

The main indexes closed the week with some minor opex price chop, sp -7pts @ 1838. The two leaders - Trans/R2K, both settled lower by -0.4%. Near term outlook remains for further upside, into the 1860/80 zone.


sp'daily5

R2K

Trans

Summary

It has been a choppy few weeks for US equities. Crucially, the bears are still unable to string together a few significant consecutive down days. This is likely just consolidation across time before the next lurch into the sp'1860/80 zone..by end month.

In some ways, the real question is when will the sp'1900s be hit? That seems a given..the only issue is whether its before the next moderate down cycle - which I'm guessing will be around 3-4%...no later than mid February.

The big picture remains unchanged. General upside into the late spring..before the opportunity of a major correction. We're sure due one.

a little more later...