Tuesday, 2 February 2016

Daily Index Cycle update

US equities closed moderately mixed, sp -0.9pts @ 1939 (intra low 1920). The two leaders - Trans/R2K, settled +0.9% and -0.3% respectively. Near term outlook is choppy, with the 1970s more viable next week. February looks set for a great deal of chop/churn, with the next major wave lower unlikely until March.




Suffice to add, a bit of a mixed day, but with a notable latter day recovery, the sp'500 having swung from 1920 to 1947, but settling fractionally lower at 1939.

Broadly, the market looks set to claw a little higher into next week. The sp'1970s look a reasonable target.

What does seem clear, sustained action >sp'2K looks extremely unlikely, as the giant monthly cycles are highly suggestive of much lower levels.

a little more later.... on the END OF THE WORLD :)