It was a choppy end to the week for equities. However, most important to note is that the sp'500 and the Transports, did break new historic highs. Outlook remains unchanged, with continued upside into the next FOMC of March'19...somewhere in the low 1900s.
...and another week comes to a close.
Certainly, I realise many are still utterly frustrated by this market. Bears are still being teased by sporadic little pull backs of 0.5% or so..only for the market to rally right back.
Personally, the broader outlook remains on track. What will be critical is the price action in FOMC week. I'd really like to see a very sharp intraday reversal, to make a clear spike-top. We've only another 8 trading days to find out.
*Thanks to all those who have said hello/commented this week, it is always good to hear from some of you.
Have a good weekend everyone!
The usual bits and pieces across the evening.
*the weekend post will be on the US monthly indexes