Wednesday, 11 November 2015

Daily Index Cycle update

US equities closed moderately mixed, sp +3pts @ 2081 (intra low 2069). The two leaders - Trans/R2K, settled u/c and +0.3% respectively. Near term outlook is for a test of the 200dma (2063).. with the 2020s viable next week.




So, the sp'500 managed a minor net daily gain.

Broadly... the market still looks set for weakness into early next week. Best bearish case remains the sp'2020s. Sustained price action under the sp'2K threshold looks out of range... for the remainder of the year.

a little more later...