Wednesday, 30 April 2014

Daily Index Cycle update

US equities closed moderately higher, sp +8pts @ 1878. The two leaders - Trans/R2K, settled higher by 0.4% and 0.3% respectively.  Near term outlook is offering the sp'1885/95 zone, with a brief foray into the low 1900s.


Nasdaq Comp'



All things considered, the daily charts - esp' the Dow and SP'500, bode for much higher levels in May. Even the Nasdaq which saw a much deeper retrace, looks set to break upward before the weekend.

Bears had their chance, and all they could manage was sp'1897 to 1814..a mere 4.4% decline.

Closing update from Riley

a little more later...