Saturday, 15 August 2015

Daily Index Cycle update

US equities ended the week on a moderately positive note, sp +8pts @ 2091. The two leaders - Trans/R2K, both settled higher by 0.6%. Near term outlook remains unchanged, with renewed weakness, ideally to the sp'2040s, with Dow 17000, and that should equate to VIX in the 17s.




Little to add.

Despite a net daily gain to end the week, it remains a series of lower highs and lower lows since most indexes peaked in mid May.

Renewed downside looks due next week.

Closing update from Riley

a little more later...