Wednesday, 5 February 2014

Daily Index Cycle update

Equity indexes saw a moderate bounce, with the sp'500 settling +13pts @ 1755. The two leaders - Trans/R2K, settled higher by 1.2% and 0.8% respectively. The broader trend remains to the downside, with a target zone of 1710/1690.





So..a bounce for the bull maniacs, but really, it was not significant, and does nothing to negate the recent major declines.

Broader trend remains unchanged, and a hit of the 200 day MA - currently 1708, looks likely within the next few days.

Closing update from Mr TopStep

a little more later...