FRIDAY 12/19/14; Cascading Global Rally Continues; Cyber Wars; BBRY; KMX; FINL; PAYX; OpEx Quadruple Witching; US Stocks Print Three-Day Historic +5% Fed-Induced Yellen Rally; UTIL All-Time Record High

Asia is a sea of green with the cascading global rally performing another loop. The Asian theatre logs the strongest stock market gains in 15 months. All major Asian indexes are higher except for the Bangkok SET that is only down a smidge. The NIKK gains +2.4% as the yen weakens with dollar/yen above 119. The BOJ maintains a steady monetary policy at the conclusion of the two-day meeting. Eyebrows are raised over the ongoing BOJ inflation target of +2% which is too optimistic with the tumbling oil prices. Japan is a large importer of oil. The BOJ may lose credibility going forward with the unrealistic inflation target.

SPASX200 +2.5%. SSEC +1.7%. HSI +1.3%. KOSPI +1.7%. India’s Sensex gains +1.1%. China says 







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Chrysler expands the Takata airbag recall to over three million vehicles worldwide.

The NYA remains above the 40-week MA signaling a cyclical bull market (months) ahead but this fight will continue next week and into January before the firm winner forward is clearly identified. The stock market has been in a solid cyclical bull pattern since late summer 2012 (NYA above the 40-week MA).

The new moon approaches the darkest time of the month. Military operations may occur since the side with superior night vision technology has a distinct advantage. Israel launches an air strike on Gaza reopening the Israeli-Palestinian conflict that had calmed since summer time. Hamas radicals launched a rocket into Israel today and the Israeli attack targets a suspected militant location.