Thursday, 15 January 2015

Daily Index Cycle update

US equities closed lower for the fourth consecutive day, sp -11pts @ 2011 (intra low 1988). The two leaders - Trans/R2K, settled -0.9% and -0.3% respectively. Near term outlook offer a hit of the 200dma of sp'1965, before renewed upside into early February... to be 'inspired' by further QE from the ECB.





Another day for the equity bears.

However you want to count this nonsense... near term price action remains very weak... and price structure is offering a series of lower highs.. and lower lows.

With sp'1992 failing to hold, a further decline into the sp'1960s looks likely.

From there though... with the ECB set to spool up the printers... most world markets are set for renewed upside next week.. and probably across much of the spring.

a little more later...