Friday, 29 January 2016

Closing Brief

US equity indexes end the week and month on a rather positive note, sp +46pts @ 1940. The two leaders - Trans/R2K, settled higher by 3.0% and 3.2% respectively. Near term outlook continues to offer the 1940/70 zone... before the high probability of a crash wave in March.



*closing hour action: a new cycle high of 1940, bodes for the 1950s next Monday.

.. and I thought the 1920s were a bold target for the Friday close yesterday morning.

So.. another week comes to a close... one that has probably confused and annoyed many.

For me.. as I said across the week, the weekly cycles did not favour the bears. I've never seen a new down wave begin from such a technical setup.

To break <1812.. first.. we need to rally, and we've now seen about 75/80% of the gains.

As things are, I think its possible I could start launching market shorts in about 7-8 trading days.

Have a good weekend

*the usual bits and pieces across the evening to wrap up the week... and month.