sp'weekly8
sp'monthly2 - Bollinger/Keltner
Summary
Okay..I'm tired..so I'll merely higher the key issues...
weekly8'.. note the lower bollinger now, up to 1750. By end March, equity bears are going to find it tough just to get into the 1820/00 zone. A break <1737..looks very unlikely any time soon.
monthly'2. note the upper bollinger, now close to the 1930s..which is a viable target for the bull maniacs by late March/early April.
As it is..my best guess is that we'll have a real opportunity at maxing out at the next FOMC of March'19.
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Clown finance TV wheel on a doomer bear
With the market 1.2% below last Fridays high of sp'1867, it seems it was time for one of the old school doomer bears to make an appearance, here is Harry Dent...
There was a time when I'd have been on board with Dent's outlook. Yet...no longer
For the record, his obsession with demographics being a major macro-economic inhibitor is a very valid issue. Yet, there are - in my view, multiple far more powerful issues, not least world capital flows. If you also believe that the cyclical bond market rally from the 1980s is complete, then the only place (for most) to park their money is in equities.
As it is, I don't think we'll see Dow 17k this side of summer 2014, but neither do I see Dow 6k as viable anymore - whether next year, 2016..or beyond.
*Best case downside for the Dow this summer looks to be 14/13k, before the next hyper-wave into late 2015/early 2016.
Looking ahead
There isn't anything significant due tomorrow, market will have the opportunity to give its full attention on the Ukraine situation, and also look towards the monthly jobs data due this Friday.
*next sig' Qe-pomo is not until Wednesday
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Goodnight from London