Friday, 30 May 2014

Closing Brief

US equities closed the week..and the month on a positive note, with rather typical algo-bot melt, sp +3pts @ 1923. The two leaders - Trans/R2K, settled -0.1% and -0.5% respectively. Near term outlook offers further upside into next Wednesday.



..and another month comes to a close.

This was month'32 of the grand wave from Oct'2011.

I continue to have the hope (if smaller each day), that we'll get stuck this June..or July.

Problem remains - at least as I see it, even if we do eventually see a strong (if brief) 2-3 month wave lower, the central banks will go crazy with the PRINT button, with the market rebounding even stronger than it did in late 2011.

I hold to the original 'grand outlook' that we'll see broad upside into late 2015/early 2016. More on that later this evening though...

*I am entirely on the sidelines, and have little intention of getting involved until at least next Wednesday. I'd consider a minor short side trade..perhaps...based on possible disappointment at the next ECB of June'5.

Have a good weekend
*the weekend post will be on the World monthly indexes

A late afternoon update from Riley, which will likely suffice for the weekend