3pm update - clearing the 200 and 50 day MAs

US equity indexes are seeing stronger than expected pre-Santa upside, with a clear push through the 200 and 50 day MAs. With the move to sp'2064, the door is now open to the resistance zone of 2075/80 tomorrow.. or at the latest, next Monday. The odds of a year end close in the 2100s just jumped.


sp'60min

Trans, daily

Summary

*even the battered Transports is set for a third daily gain. First target is the 200dma.. and is it notable that whilst the sp'500 is now above its 200dma, the Trans needs to climb another 670pts (around 9%).. just to test its 200dma in the 8200s.
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So.. the market just wants to grind the equity bears to dust.. ahead of Santa.

There is a lot of other stuff to say on the bigger monthly cycles (hello AB), but I'll leave that for later.
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back at the close