Monday, 23 February 2015

Closing Brief

US equities closed moderately mixed, -0.7pts @ 2109. The two leaders - Trans/R2K, settled +0.1% and u/c respectively. Near term outlook offers a cycle high of 2110, with a downside target zone of 2060/40 into next week.




*a minor touch of strength into the close, but nothing of significance.

So.. equity bulls failed to break a new cycle high, but neither did the bears show any downside power.

Market remains clawing 'broadly higher', even a move to the 50dma in the 2050s next week will do nothing to the broader trend.

a daily wrap at 8pm EST