Tuesday, 11 August 2015

Daily Index Cycle update

US equity indexes closed significantly higher, sp +26pts @ 2104. The two leaders - Trans/R2K, settled higher by 1.5% and 1.2% respectively. Near term outlook is now borderline, bears need to hold the market under the recent failed rally attempt of sp'2112.




*The Dow (along with the NYSE comp') is set for a 'death cross' tomorrow.. or at the latest... Wednesday. From a pure technical perspective, it is a bearish signal.. but can often be so laggy as to be useless for short/mid term trades.

Little to add.

A strong start to the week for the bull maniacs. However, the bulls need a decisive daily close above last weeks high of sp'2112.. otherwise, its just another failed rally.

a little more later...