Saturday, 21 March 2015

Daily Index Cycle update

US equities settled with some borderline significant gains, sp +18pts @ 2108. The two leaders - Trans/R2K, settled higher by 0.3% and 0.9% respectively. Near term outlook remains bullish into April, with next key resistance in the 2120/30s, but with viable upside all the way into mid June.



Nasdaq Comp'


Little to add

R2K is leading the way, with the Nasdaq breaking back above 5K, set to challenge the March'2000 high of 5132. Once a monthly close in the 5200s... it will be decisive enough to call for the 6-7k zone by end year.

Most notable... since the Oct' low of sp'1820.. it remains a series of broadly higher highs... and higher lows. There is simply nothing bearish here.

a little more later...