Friday, 15 May 2015

Daily Index Cycle update

US equities closed with somewhat significant gains, sp +22pts @ 2121. The two leaders - Trans/R2K, settled higher by 0.5% and 1.0% respectively. Near term outlook is for new historic highs in some of the indexes, but certainly not the Trans/R2K which remain seriously lagging.


sp'daily5



R2K



Trans


Summary

*the weakness in the two leaders remains an issue, but still... at least some of the indexes look set to break new territory in the days ahead.
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Sp'500, Dow, NYSE/Nasdaq comp' are set to break new historic highs in the near term.

The bigger weekly/monthly cycles will both be offering the sp'2170s in mid June... which would make for a rather important tag of the upper bollinger band.

In any case.. for now.. this is still no market for those wishing to be broadly short equities.

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a little more later...