Another wave higher.. still looks due

US equities saw a week of moderate chop, with the sp'500 seeing a marginal net weekly decline of -2pts (-0.1%), settling at 1878. The broader bullish up trend - from the recent 1814 low is very much intact, and there is viable upside to the 1910/20s by end May.


sp'weekly8

Summary

Well, another week comes to a close, and the US markets are indeed still broadly climbing.

Yes, the R2K/Nasdaq remain weak, but taken as a whole, the equity bears simply can't get overly confident yet of the much touted (not least by yours truly)...'significant multi-month inter'4 wave lower'.

Right now, my best guess...the market levels out in the 1920/50 zone..no later than early June..and then we fall to 1625/1575 by Sept/October.

Goodnight from London
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*the weekend post will be on the US monthly indexes