US equity indexes closed moderately higher, sp +10pts @ 1989 (intra high
1992). The two leaders - Trans/R2K, settled higher by 0.7% and 0.5%
respectively. Near term outlook offers a 'Draghi inspired' break above
last Friday's high of sp'2009.. with a test of the 200dma (currently
2021) early next week.
sp'daily5
Dow
Summary
More than anything, it is notable that after broad Tuesday declines, there was simply no downside follow through today.
Best guess: further upside to the 200dma for most indexes. The market has a high probability of maxing out next week.
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a little more later....
