Friday, 12 August 2016

Back to 100% percent bullish

US equities continue to push upward from their Jan/Feb' 2016 lows, with new historic highs in the sp, dow, and nasdaq comp'. The market looks set to broadly hold together across the somewhat tricky time of Sept/Oct, and keep climbing all the way into spring 2017.



The Friday close of Aug'12th was the first daily close with the MACD (blue bar histogram) cycle above the zero threshold since Feb' 2015. This is a pretty bullish event, and has resulted in MARCON 7.

Price action could see sp'2170/60s at any point, and this would result in a down grade back to MARCON 6. Broadly, it does look like we'll soon be trading consistantly in the sp'2200s... so MARCON 7 looks probable for much of the rest of the year, and into 2017.

On a purely technical basis, the equity bulls are back in full control... as reflected with recent historic highs.