Thursday, 22 January 2015

Daily Index Cycle update

US equities saw another day of moderate swings, (sp' range 2012/38), settling +9pts @ 2032. The two leaders - Trans/R2K, settled +0.5% and -0.3% respectively. Near term outlook offers renewed upside.. to new historic highs, next key resistance is sp'2110/20.




Little to add.

Most indexes merely churning ahead of the ECB. Price structure remains broadly bullish, but it will be important for the bulls to break new historic highs within the next 2-3 weeks.

Closing update from Riley

a little more later...