Wednesday, 18 March 2015

Daily Index Cycle update

US equities closed moderately mixed, sp -7pts @ 2074 (intra low 2065). The two leaders - Trans/R2K, settled -0.1% and +0.2% respectively. Near term outlook offers a FOMC spike to 2085/90 zone... before a strong reversal. The manner in which the market closes Wednesday will be pretty important.


Nasdaq Comp'


Nasdaq was particularly strong today, settling +0.2% @ 4937. If sp' can attain a daily close in the 2090s tomorrow/Thursday, it would be suggestive of 2120/30s in April.. which would equate to Nasdaq back above the giant 5k threshold

Little else to add... on what were relatively minor moves.. ahead of the Wednesday FOMC.

Closing update from Riley

a little more later...