Friday, 6 November 2015

Daily Index Cycle update

US equity indexes closed a touch weak, sp -2pts @ 2099 (intra low 2090). The two leaders - Trans/R2K, settled +0.3% and u/c respectively. Near term outlook offers the 200dma @ 2062.. along with VIX 18/20 zone. Best bearish case by Nov' opex remains 2020.. where the 50dma will soon be lurking.




Little to add.

US equities are still holding within the upward trend from the Aug/Sept' lows.

At best, equity bears could manage a 38% fib' retrace to the sp'2020s by Nov' opex... but from there... resuming upward into year end... and beyond.

a little more later...