Wednesday, 20 April 2016

Daily Index Cycle update

US equity indexes closed moderately mixed, sp +6pts @ 2100 (new cycle high 2104). The two leaders - Trans/R2K, settled higher by 1.3% and 0.1% respectively. Near term outlook offers a break of short term rising trend/support, a move <2090 will open up the gap zone 2065/61 by the Friday close.



Nasdaq comp'


sp'500: a notable new multi-month high of 2104.. a mere 30pts (1.4%) shy of the May'2015 high.

Dow: a new high of 18103..  just 248pts (1.4%) shy of the May 2015 high.

Nasdaq: a net daily decline of -0.4%, but still holding within the gap zone of the 4900s.

a little more later...