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.



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.