Friday, 7 March 2014

Daily Index Cycle update

US indexes closed somewhat mixed, sp +3pts @ 1877 (intraday peak 1881). The two leaders - Trans/R2K, settled +1.0% and -0.1% respectively. The broader outlook remains for the market to rally into the next FOMC, somewhere in the 1900/20 zone.





Most notable, the Trans...and the Dow, are both set to break new highs.

Even if we open somewhat lower tomorrow - on 'bad' jobs news, the market will surely just claw right back. The bigger weekly/monthly charts are highly suggestive of the sp'1890/1910 zone in the very near term.
a little more later...