Wednesday, 5 August 2015

Daily Index Cycle update

US equity indexes closed moderately mixed, sp -4pts @ 2093 (intra low 2088). The two leaders - Trans/R2K, settled +0.1% and -0.2% respectively. Near term outlook is for a daily close under the 200dma (2070), which will offer clarity that the US market has already maxed out for the summer.. and year.




Suffice to add, another day where the bull maniacs tried to break and hold above the sp'2100 threshold... but failed.

Market looks due a significant net daily decline this week... with a daily close under the 200dma, and that is when things get interesting.

a little more later..