Tuesday, 17 March 2015

Daily Index Cycle update

US equities closed significantly higher, sp +27pts @ 2081. The two leaders - Trans/R2K, settled higher by 1.7% and 0.6% respectively. Near term outlook is back to bullish, and will remain so, unless equity bears can get a daily close <sp'2060.


sp'daily5



Dow


Summary

Suffice to say... a day for the bulls... and price structure on the hourly cycle is a bullish F flag. On balance.. Tuesday will close net higher.

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a little more later