Wednesday, 28 October 2015

Daily Index Cycle update

US equities closed broadly weak, sp -5pts @ 2065. The two leaders - Trans/R2K, settled lower by -2.6% and -1.2% respectively. Near term outlook is for renewed upside to the 2080/90s.. not least if the market can cope with a dull FOMC announcement and somewhat mediocre Q3 GDP data.


Nasdaq comp'


*Tech' held up very well today, certainly relative to the 'two leaders - Trans/R2K'.

Despite a second net daily decline, the sp'500 - along with other indexes, look set for renewed upside. It is notable that today was the third close above the 200dma.

Closing update from Riley

a little more later...