Friday, 4 March 2016

Closing Brief

US equity indexes closed higher for a fourth consecutive day, sp +6pts @ 1999 (intra high 2009). The two leaders - Trans/R2K, setled higher by 0.6% and 0.5% respectively. Near term outlook offers the 2020/40 zone by the FOMC of March 16th. From there, the market should see a critical rollover, and implode to at least the 1600s by June.



*closing hour action: micro chop, but leaning on the upside.

So, a fourth day to the upside, making for the third net weekly gain.

Sustained action <1970 looks out of range in the near term, and indeed, we could easily be trading 2015/25 by next Wednesday.

The ECB will be a clear threat to the equity bulls, but still.. there will still be threat of further upside to the gap zone of 2038/43 when the FOMC announcement is made at 2pm on March 16th.

From there... I should be hitting buttons. Big ones.

Clown finance TV were asking a guest which will come first: 16k or 18k

The correct question should have been 'what will we see first 14/13k or 18k?'

Have a good weekend

*the usual bits and pieces across the evening...