Wednesday, 14 October 2015

Daily Index Cycle update

US equity indexes closed broadly lower, sp -13pts @ 2003 (intra high 2022). The two leaders - Trans/R2K, settled significantly lower by -2.2% and -1.4% respectively. Near term outlook is for renewed upside to the 2030/40s.. with critical resistance within the 2040/60 zone.




Despite the sig' net daily decline, the Trans' remains on track for a test of the 200dma in the 8475/8500 zone... along with sp'2050/60s.

Clearly, that is out of range this week, but looks viable before end month.

a little more later...