Tuesday, 17 November 2015

Daily Index Cycle update

US equities closed significantly higher, sp +30pts @ 2053. The two leaders - Trans/R2K, settled higher by 0.5% and 0.8% respectively. Near term outlook is for broad upside into the next FOMC of Dec'16th. From there... it really is up to the Fed. If no rate rise... uncertainty and lack of confidence will return to world capital markets.




Suffice to say.. we have bullish engulfing candles all over the place... offering a strong floor from sp'2019.

The 2100s look due within a few weeks... and then a challenge of historic highs before year end.

a little more later....