Friday, 27 February 2015

Closing Brief

US equities settled a touch weak, sp -6pts @ 2104. The two leaders - Trans/R2K, settled lower by -0.6% and -0.5% respectively. Near term outlook offers a minor retrace to the sp'2060s.. where the 50dma will be lurking next week.


sp'60min


Summary

... and another rather tedious week in market land comes to a close.

All things considered, it looks like sp'2119 was a short term high. We look set to slide to the 2060s by next Wed/Thursday.. before renewed upside.

On no basis does it look like the market will be sustainably trading under the 2050 for some months.

Have a good weekend
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*a full set of updates across the evening to wrap up the week