Daily Index Cycle update

The main indexes closed with some mixed chop, sp -0.6pts @ 1831. The two leaders - Trans/R2K, both settled higher by around 0.5%. There is slight risk of further downside next Mon/Tuesday, but with broader upside into mid/late January, into the sp'1860/80 zone.


sp'daily5

R2K

Trans

Summary

A pretty choppy end to the week, but then..with many traders still on holiday, it remains a rather quiet market.

There is minor risk of downside to maybe 1820/18 next Mon/Tuesday, but really, the general trend remains to the upside.

Next week things really get back to normal, where we have the FOMC minutes (Wed'), and the monthly jobs data (Fri').
--

a little more later...