Saturday, 12 March 2016

A fourth week of gains

US equity indexes saw a fourth consecutive net weekly gain, with the sp +22pts (1.1%) @ 2022, having rapidly recovered from a Thursday low of 1969. Near term outlook offers the 2038/43 gap zone, before the market likely maxes out. First soft downside target after the FOMC will be the 1930/20 zone.




*It is highly notable that the 'old leader' - Trans, saw an eighth consecutive net weekly gain, the best run since the 9 week run of gains in March-May 2009.

Its been a pretty interesting week... and I'll leave it at that.

Goodnight from London

*the weekend post will be on the US monthly indexes