Saturday, 12 March 2016

Daily Index Cycle update

US equities ended the week on a significantly positive note, sp +32pts @ 2022. The two leaders - Trans/R2K, settled higher by 2.3% and 2.2% respectively. Near term outlook offers further upside to the 2038/43 gap zone, before a key top is put in. After the FOMC of March 16th, equities should begin cooling.




The Dow and sp'500 haveboth  broken above their respective 200dma, with next resistance at the gap zone of 17405/425, which would directly equate to sp'2038/43.

So long as the indexes do not sustainably hold above the 200dma into end month, equity bears are still in broad control.

a little more later..