Thursday 4 June 2015

Daily Index Cycle update

US equities closed notably positive, sp +4pts @ 2114 (intra high 2121). The two leaders - Trans/R2K, settled higher by a significant 1.2% and 1.0% respectively. Near term outlook is mixed, with new historic highs due in some (certainly not all) indexes into the next FOMC of June 17th.


sp'daily5



Dow



Summary

Little to add.

Broader market remains choppy. There remains threat of the sp'2080s (if minor).. but renewed upside into the next FOMC looks highly probable.

The sp'2160/80s look due before the next realistic chance of a rollover.

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a little more later...