Saturday, 7 June 2014

Daily Index Cycle update

US equities closed higher for a third consecutive day, sp +8pts @ 1949. The two leaders - Trans/R2K, settled higher by 0.9% and 1.0% respectively. Near term outlook remains bullish, with minor opportunity for a retrace.





Suffice to say, primary trend remains to the upside, but yes...we should be getting stuck kinda soon - not least if you consider the Trans/R2K charts.

Regardless, I have little interest in playing the short side in the immediate term, perhaps at the next FOMC of June'18.

Closing update from Riley

a little more later...