Thursday, 27 August 2015

Daily Index Cycle update

US equity indexes have broken the downward trend, with the sp +72pts @ 1940 (intra low 1880). The two leaders - Trans/R2K, settled higher by a powerful 2.9% and 2.4% respectively. There is clarity in the near term, with a secure double floor of sp'1867, first target upside is the 2000 threshold.




Suffice to add... we have a secure double floor of sp'1867, and it appears we are due for at least some days of upside.

Underlying MACD (blue bar histogram) cycle is levelling out on most indexes. With the cycle at extremely low levels, it will likely take at least a full TWO WEEKS just to have a chance at breaking back to the zero threshold.

a little more later...