Tuesday, 15 September 2015

Daily Index Cycle update

US equities closed moderately weak, sp -8pts @ 1953 (intra low 1948). The two leaders - Trans/R2K, both settled lower by around -0.4%. Near term outlook is for subdued price action into Thursday, before a major break... to the upside. The sp'2000s still look probable before the bears have another opportunity of downside.




Little to add.

Daily MACD line remains exceptionally low. Sustained equity downside does not look possible from current levels.

Best guess... the market to break into the sp'2000s.. before rolling over into end month.

a little more later...