Saturday 22 November 2014

Daily Index Cycle update

US indexes broke a trio of new historic highs, with Dow 17894, SP' 2071, and Trans (9128). With Thanksgiving next week, the US market will likely be able to keep clawing higher.. into the low sp'2100s.


sp'daily5


Dow


Trans


Summary

*the Nasdaq' comp.. is at post 2009 highs... it looks a given that it will break the tech bubble high (March 2009) of 5132 next year.
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Suffice to say, with new historic highs, it remains an extremely strong market. The 1975/50 zone is fading away, and at best.. it looks like equity bears will be lucky to manage to hit 2000 in the next retrace.
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Closing update from Riley


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a little more later... on some fibonacci nonsense!