Wednesday, 18 December 2013

Daily Index Cycle update

The main indexes closed moderately weak, sp -5pts @ 1781. The two leaders - Trans/R2K, settled -0.4% and -0.1% respectively. Mr Market is in a holding pattern until the FOMC announcement is made tomorrow at 2pm.





Little to add

The rest of the week..and year will be entirely dependent upon how the market reacts to the FOMC tomorrow.

The target levels are clear, bears need a break <1772, whilst bulls merely need a break back into the low 1800s.

Best guess...after any initial wild swings tomorrow from 2-3pm, the market will battle higher.
a little more later...