Tuesday, 1 September 2015

Daily Index Cycle update

US equities started the week and closed the month on a rather bearish note, sp' -16pts @ 1972. The two leaders - Trans/R2K, settled lower by -0.8% and -0.3% respectively. Near term outlook is for a retrace of the 126pt hyper ramp... to the sp'1945/30 zone before the Friday jobs data.




Little to add.

Today likely saw the first part of a retrace of the 126pt ramp... target is 1945/30... which seems probable within the next few days.

All things considered, renewed upside into mid Sept' looks due, as high as the 2050/70 zone. I do not see sustained price action above sp'2080 as viable.

a little more later...