Despite a few shaky trading days recently, the broader trend has remained intact. Indeed, with new historic highs in the Transports and Sp'500 today, the equity bulls are on track for yet another monthly net gain. Incredible.
The 'old leader is now 3.1% higher so far this month... and it will surely make for the sixth consecutive monthly gain. On any basis, that is a huge achievement for the equity bulls. Considering the current price action, another 2-3 months of net monthly gains look... probable.
Similarly, despite the current blue candle on the sp'500 weekly chart, we did fractionally break a new high today of 1986. The 1990s look easily within range, and it is highly notable that the upper bollinger is already offering the 2010s.
The only minor thing of note tomorrow - aside from various corporate earnings, will be the EIA oil report.
*there is sig' QE of around $2bn... bears beware!
Hitting a button
Finally, after a fair few days of watching this nonsense, I entered a trade. I am long the R2K from 1154, seeking the 1170s by end of this week. In the bigger picture, I'm somewhat resigned to the 1300s at some point, although that seems more likely next year.
Goodnight from London