Tuesday, 31 January 2017

Equities cruising higher

January saw a new historic high of sp'2300, as underlying price momentum continues to lean increasingly bullish. There is simply no sign of the current wave that began in Feb'2016 ending.




sp'monthly9



Summary

January saw a third consecutive net monthly gain, as - contrary to what some wish to believe, the post election rally continues.

For now, there is zero reason to be bearish unless a monthly close under the key 10MA, which will soon be in the 2200s.

It is entirely possible - if not probable, that we'll see the 2400s by May/June.
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sp'monthly7 - ichimoku


Its interesting to note that by year end, the top of the cloud will be around sp'1950. Those calling for deflationary collapse really have no justification until a break inside the cloud.

Monday, 21 November 2016

New historic highs

With a quartet of new index historic highs - including sp'500 @ 2198, underlying price momentum on the giant monthly cycle has turned back to outright bullish.




sp'monthly9



Summary

Little to add, as the main market is now regularly breaking new historic highs in 4 of 6 indexes. The NYSE comp' and Transports look set to follow in early 2017.

Short term, the upper bollinger is offering the 2230s, with the 2250s seemingly viable by year end. The 2300s look out of range until early 2017.

Tuesday, 25 October 2016

Renewed weakness

With moderate weakness to sp'2143, price momentum on the giant monthly cycle is back to fractionally negative. Outlook remains bearish into early November.




sp'monthly9



Summary

Little to add.

Equity bears should be battling for an October close under the 10MA (currently 2084)... but that looks out of range, considering there are just 4 trading days left.

Lets just see how we close the month.

Choppy October

With moderate gains to start the week, price momentum on the giant monthly cycle is back to fractionally positive. Near term outlook though, is for renewed cooling into early November.




sp'monthly



Summary

Suffice to add... back to outright bullish..... if only for a day or two.

Market looks vulnerable into early November.

Right now... a monthly close at MARCON 6 looks probable.... aka... prices somewhere <2140 or so.