Wednesday, 26 August 2015

Daily Index Cycle update

US equity indexes saw a severe late day downside reversal, sp -25pts @ 1867 (intra high 1948). The two leaders - Trans/R2K, settled lower by -1.7% and -0.7% respectively. Near term outlook is very borderline.. if 1867 fails on Wednesday, downside to 1820... otherwise... renewed upside to 2000.




With the closing hour an unquestionable train wreck, the door is now open to another day or so of downside.. at least to the Oct' low of sp'1820.

From a pure cyclical perspective, the daily MACD cycle is on the extremely low end.. and there is the constant threat of a sustained and powerful rally.... one that (unlike today).. will hold.

*I hold moderately long overnight (via AAPL), would consider adding... if sp'1820s.

a little more later...