Saturday, 10 October 2015

Daily Index Cycle update

US equities closed moderately higher, sp +1pt @ 2014 (intra high 2020). The two leaders - Trans/R2K, settled higher by 0.7% and 0.2% respectively. Near term outlook is for continued upside to the 2040/60 zone. The ultimate issue remains, can the market achieve a monthly close back above old broken support?




Suffice to note.. a clear break above declining resistance/trend for the 'old leader' - Transports, seemingly headed for the 200dma in the 8500s.

The sp' looks on track for a similar test of the 200dma in the 2060s.

a little more later...