Market Analysis, Charts, Macro-Economics, and other nonsense
Tuesday, 16 June 2015
Daily Index Cycle update
US equities closed moderately lower, sp -9pts @ 2084 (intra low 2072). The
two leaders - Trans/R2K, settled lower by -0.5% and -0.3% respectively. Near term outlook is
very mixed, with viable moderate upside/chop into the FOMC announcement
(Wed' 2pm). A test of the 200dma in the sp'2055/50 zone looks probable.
sp'daily5
Trans
Summary
*Trans remains the market laggard. New highs (>9300s) look unlikely for many months.
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Little to add.
Best guess.. moderate upside/chop into Wednesday afternoon (FOMC 2pm, with a press conf. shortly after), before resuming lower.
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