Wednesday, 21 October 2015

Daily Index Cycle update

US equities closed moderately mixed, sp -2pts @ 2030 (intra high 2039). The two leaders - Trans/R2K, settled +0.6% and -0.1% respectively. Near term outlook is for continued upside, with all indexes set to test their respective 200dmas.


Nasdaq comp'


It is notable that the Nasdaq is now stuck at the 200dma.

Broadly though, if sp'2050/60s within the next 2-6 trading days.. the Nasdaq will be trading above the 200dma.. and that will bode for straight up moves in other indexes.

a little more later...