sp'daily5
R2K
Trans
Summary
Without question... we have a solid floor of sp'1972.. as of the Tuesday close.
With today's close of 2012... the market is now well on the way to the sp'2100s... if not much higher across spring 2015.
The R2K saw a powerful gain of 3.1% today, and looks set to break new historic highs >1213 in January. Once that is achieved, it will be an extremely powerful signal to the broader market.. and be suggestive of sp'2300s by late spring.
Special note, the R2K is due a 'golden cross' (50dma crossing above 200dma) either tomorrow.. or Friday.
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The Trans only managed a moderate gain today, but that is no doubt due to the realisation that Oil prices have likely floored at $53.
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Closing update from Riley
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a little more later...