Wednesday, 17 September 2014

Daily Index Cycle update

US equity indexes closed moderately higher, sp +14pts @ 1998. The two leaders - Trans/R2K, settled higher by 0.6% and 0.4% respectively. Near term outlook offers new historic highs for most indexes - although the R2K remains a particular laggard.




*the Dow was a notable index today in that it broke a new historic high of 17167.

The daily charts for most indexes are offering rather clear bull flags spanning the past few weeks.

Whether you want to label/count the recent wave as a 2, B, or whatever, we look to be in a new up wave..which in theory.. should be stronger than the move from 1904-2011.

Closing update from Riley

a little more later...