Summary
The sp'1800s look very likely in November. Even the 1900s look 'briefly' viable before year end, although if we reach those exuberant levels, we'll surely see some significant - and understandable, year end profit taking.
Whilst QE continues, this remains a powerfully bullish market, fuelled with huge amounts of Fed induced liquidity.
sp'monthly9
A drop to MARCON 6 looks unlikely until late spring 2014...and MARCON 5 not until early autumn. That is assuming the markets level out in the sp'1900/2000 range by March/April.
Considering QE-taper looks off the agenda until spring 2014, this market looks set to just 'broadly' keep on rising.
