Wednesday, 13 April 2016

Daily Index Cycle update

US equities closed broadly higher, sp +19pts @ 2061 (intra low 2039). The two leaders - Trans/R2K, settled higher by 0.8% and 1.0% respectively. Near term outlook is extremely borderline, as there is threat of a break above the key high of 2075. Best case near term downside is the 2025/15 zone.


Nasdaq comp'


sp'500: broadly stuck within the 2075/20s. Price structure could be argued is a giant bull flag, although I would call it a choppy top.

Nasdaq: still stuck below the key 4900 threshold.

a little more later...