Friday, 29 May 2015

Daily Index Cycle update

US equities closed moderately weak, sp -2pts @ 2120 (intra low 2112). The two leaders - Trans/R2K, settled -0.9% and -0.1% respectively. Near term outlook is increasingly uncertain. If the USD has maxed out in the DXY 97s, then renewed equity upside will be likely across June.. and probably into July.




Suffice to add, despite the continuing significant weakness in the 'old leader' - Transports, the broader market is holding together very well.

a little more later..