Friday, 29 January 2016

Daily Index Cycle update

US equities closed moderately mixed, sp +10pts @ 1893 (intra low 1873). The two leaders - Trans/R2K, settled -0.8% and +0.1% respectively. Near term outlook is for a Friday or Monday close >1900, and that will confirm the 1940/70 zone will be hit in first half of February.




Suffice to add, price action sure is choppy, but we're comfortably above last weeks low of sp'1812.

Best guess remains.. further upside (if even more choppy) to the sp'1940/70 zone.

Closing update from Riley

a little more later...