Wednesday, 18 May 2016

Daily Index Cycle update

US equities closed broadly lower, sp -19pts @ 2047. The two leaders - Trans/R2K, settled +0.6% and -1.6% respectively. Near term outlook offers a primary target of 2000/1990s.. with an equally valid H/S scenario target of the 1970/60s.




Suffice to add... the Monday gains were largely negated by today's net daily declines.

Many indexes are offering a valid H/S scenario. By default, that offers a further 4% or so lower.. and that could be achieved within just 3-5 trading days.

a little more later...