Wednesday, 29 April 2015

Daily Index Cycle update

US equity indexes closed moderately mixed, sp +5pts @ 2114 (intra low 2094). The two leaders - Trans/R2K, settled u/c and +0.5% respectively. Near term outlook remains bullish, with new historic highs due for all indexes. The VIX continues to reflect a market that has virtually no concern of anything.





*a notable break of trend on the R2K, but the daily closing candle was somewhat bullish, offering a spike floor of 1242.

Not much to add. Most indexes merely saw a minor down cycle, but held within their broader upward trends. Only the R2K showed any significant downside.. but managed a relatively impressive net gain of 0.5%.

Overall... the broader  trend remains unquestionably bullish.

a little more later..