Friday, 25 April 2014

Daily Index Cycle update

US indexes saw some mixed chop across the day, sp +3pts @ 1878. The two leaders - Trans/R2K, settled -0.4% and -0.2% respectively. Near term outlook is for the sp'1900s, which seems very viable by next Wednesday. How the market copes with QE-taper'4, is another matter entirely.





Suffice to say, today was pretty interesting to be part of, but many of the daily charts are suggestive that today's weakness was just another little tease to the equity bears.

With sig' QE-pomo next Mon/Tuesday, bears face likely problems for at least the first half of next week.

a little more later...