Thursday 18 June 2015

Daily Index Cycle update

US equity indexes closed broadly higher, sp +4pts @ 2100 (intra low 2088). The two leaders - Trans/R2K, settled lower by -0.4% and -0.1% respectively. Near term outlook remains uncertain, whilst Greece remains on the edge of a weekend default.


sp'daily5



R2K



Trans


Summary

*R2K came very close to breaking a new historic high today (1278)...
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Little to add.

With the latest FOMC out of the way, the market will have naturally less concern... but there remains the moderately important 'Greek situation' that looks set to reach breaking point this summer.

As things are.. even if the equity bears can take out the recent double low of 2072... there are a great many aspects of support in the 2050s.

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a little more later...