Wednesday 25 March 2015

Daily Index Cycle update

US equities closed moderately weak, sp -12pts @ 2091. The two leaders - Trans/R2K, settled lower by -0.7% and -0.1% respectively. Near term outlook is for renewed upside into the sp'2120/30s.


sp'daily5



Trans


Summary

*notable weakness in the Transports.. but just about holding rising trend from the Oct' low.
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Overall, despite the net daily declines, there is little for the equity bears to look forward to. Main market looks set to grind higher into end month/early April, to the sp'2120/30s.

Certainly, the VIX isn't warning of any real market concern.
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Closing update from Riley



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a little more later...