Daily Index Cycle update

Another day of new highs for many of the indexes, although there was a touch of weakness in the closing hour, with the sp' settling -1pt at 1805. Next week offers further upside, into the 1820/30s...no doubt helped by a very heavy amount of QE-pomo.


sp'daily5

Dow

Summary

There is little to add, near, mid, long term trends are all upward.

With heavy QE next week..equity bears haven't a hope.
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Closing update from Riley



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a little more later...

Volatility spikes into the weekend

With the main indexes seeing some closing hour weakness, the VIX spiked, settling +5.55% @ 13.70.    Across the week, the VIX gained 11.75%. Near term outlook is for the VIX to remain in the 11/15 zone. VIX 20s remain unlikely until late Jan'2014.


VIX'60min

VIX'daily3

VIX'weekly

Summary

Little to add.

VIX remains low..and set to remain that way until January.

Minor opportunity for a spike into the mid teens..but really. even that doesn't merit any serious attention.
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more later...on the indexes

Closing Brief

The main indexes broke another new set of historic highs, but closed a touch weak, with the sp -1pt @ 1805. The two leaders - Trans/R2K, closed -0.3% and +0.1% respectively. Next week is offering upside into the 1820/30s, and with heavy QE, equity bears don't have a hope.


sp'60min

Summary

For the bulls..just another day of gains. Certainly, the individual daily gains are nothing significant, but collectively, they sure do add up across the weeks and months. This is an amazing market to watch...and equity bears surely have another 4-6 months to wait.

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I generally try to refrain from any chat on societal issues..but..I think the following merits highlighting...

Black Friday at WMT.



I've no doubt the history/sociology students of the 29'th century will look back on such videos with utter bemusement and horror...much in the same manner that we see the 'witch' burning of many centuries ago.
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Have a good weekend!

*I'll post a few things across the evening....but earlier than normal.
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**The weekend post will be on the World monthly indexes - without question, the most important post I do each and every month.