Breaking higher

With a net daily gain of 9pts, the equity bulls managed a rather important daily close of sp'2091. The bigger weekly cycles look set to close the week outright bullish. The door is now wide open for a challenge of the upper monthly bollinger... which is currently in the 2160s. That would make for an interesting summer-short level.


sp'weekly7

sp'monthly

Summary

A notable green candle on the weekly 'rainbow' cycle. A weekly close in the 2100s is now very viable.
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Looking ahead

Friday will see import/export prices, along with US Treasury Budget data.

*there are two fed officials on the loose, not least K' who caused the equity bears some real trouble this past Monday.
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Goodnight from London