Tuesday, 18 March 2014

Daily Index Cycle update

US equities started the week on a positive note, sp +17pts @ 1858. The two leaders - Trans/R2K, settled with gains of 0.9% and 0.6% respectively. Near term outlook is for further gains into the 1870s, before a sharp wave lower after the next FOMC is out of the way.





The two leaders do look especially tired, despite today's gains.

New highs... >1883, look pretty unlikely, as supported by the weakening weekly index cycles.

Closing update from Mr Riley

a little more later...