Friday, 15 August 2014

Daily Index Cycle update

US indexes closed higher for the fourth day in five, sp +8pts @ 1955. The two leaders - Trans/R2K, settled +0.7% and +0.1% respectively. Near term outlook is for sp'1965/70 zone.. before the first chance of a minor retrace. The 2000s look very likely in September.




Dow looks set for the 50 day MA in the 16850s... which would likely equate to sp'1970.

Those who are looking for an IHS... should be seeking a retrace from 1980/90s...down to 1950/40.

Closing update from Riley

a little more later...