US equities ended the week on a broadly positive note, sp +13pts @ 2072, having swung from an early morning low of 2043. The two leaders - Trans/R2K, settled -0.7% and +0.3% respectively. Near term outlook is extremely borderline, as the equity bulls are set to begin taking out the series of marginally lower highs... or... an epic fail.
sp'daily5: a new cycle high of 2075, with the late Dec'2015 high of 2081 as first target for the bull maniacs. If that is broken and held above, the broader bear case is arguably to be dropped.
Nasdaq: on a third consecutive attempt, a net daily close above the key 4900 threshold was achieved. Next level is the giant psy' threshold of 5K.
R2K: it is notable that the 200dma is now just 23pts (2%) away.
a little more later...