Thursday, 29 May 2014

Daily Index Cycle update

US indexes closed somewhat mixed. Most notable, new historic highs for the Transports (8102) and sp'500 (1914). The two leaders - Trans/R2K, settled +0.7% and -0.5% respectively. Near term outlook is for continued broad market upside into mid June.





Little to add.

ALL indexes are broadly trending higher, and the Feb' low of sp'1814 is around 100pts lower. The weekly/monthly charts are both suggestive of higher levels into June..possibly July. As a fair few are suggesting, the sp'1940/60 zone looks very viable, before this madness finally does max out.

The longer this goes on..the sharper the down wave will be.

a little more later...