R2K, monthly
Summary
So far then.. the R2K is higher by 2.5% this month. Today, it hit a new cycle high of 1207, a mere 6pts shy of the July high of 1213.
Once we see a monthly close in the 1220s - a decisive move above the double top of March/July, it will be a critical bullish signal for where the broader equity market is headed.
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Dow 1002pt swing across 5 days
Maybe the market is starting to get used to these hyper-ramps, but to reflect upon a 1002pt gain since last Tuesday's close.. is incredible.
Dow, monthly
Most notable... just 3 monthly net declines this year... and only one of those - January, could even be said to be 'significant'. Dow 20k looks to be a very viable target by late spring.
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Looking ahead
Christmas eve will see the weekly jobless claims, along with the EIA oil report.
US equity markets will close early at 1pm.
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Outlook for 2015
I've had some submissions already,, keep on sending them.. see HERE for details.
Goodnight from London