Saturday, 16 May 2015

Daily Index Cycle update

US equities closed moderately mixed, sp +1pt @ 2122. The two leaders - Trans/R2K, settled +1.0% and -0.1% respectively. Near term outlook offers upside into the 2140s by end month, with the 2170s just about viable by the next FOMC of June 17th.





*the 'old leader' - Trans, remains particularly weak, not least as Oil prices remain close to $60.

Little to add. Most indexes look set for marginal new historic highs into June.

What would be especially notable is if the Nasdaq comp' can break/hold 5132.. which is only 2% higher. The ultimate bullish signal for this summer would be a monthly close in the 5200s.

a little more later...