Thursday, 9 January 2014

Daily Index Cycle update

The main indexes closed with some chop, sp -0.4pts @ 1837. The two leaders - Trans/R2K, settled +0.3% and unchanged respectively. There appears relatively easy upside to the sp'1850s within the next few trading days, and possibly 1860/80 before the next minor top is complete.





Little to add, on what was a pretty quiet day in market land.

We arguably still have bull flags on just about all the indexes, and there is pretty easy upside of 2-3% into end January. The transports looks especially strong, and is holding the up trend from early October.

Certainly though, the sp'1900s look unlikely in the current wave.

a little more later...