Monday 5 January 2015

Closing Brief

US equities settled significantly lower, sp -37pts @ 2020 (intra low 2017). The two leaders - Trans/R2K, settled lower by -2.7% and -1.4% respectively. Near term outlook is for a key floor to be put in this week.. before the sp'2100s.. which are still viable by end month.


sp'60min


Summary

*hourly cycle offering a key floor at the gap zone/61.8% fib retrace of sp'2017. However, daily/weekly cycles are outright bearish.
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Interesting start to the week...but unless the recent low of sp'1972 is taken out in the current down wave.. it is merely the same series of higher highs... and higher lows. Bears... beware!
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With some dynamic action... a full set of updates to wrap up the day... across the evening