Wednesday, 2 September 2015

Daily Index Cycle update

US equities closed significantly lower, sp -58pts @ 1913 (intra low 1903). The two leaders - Trans/R2K, settled lower by -2.1% and -2.7% respectively. Near term outlook is for renewed upside, at least to the sp'2000 threshold.. with VIX cooling to the low 20s.




Suffice to note, a second day in favour of the equity bears... but it is likely just a natural retrace of last weeks 126pt ramp of sp'1867 to 1993.

Renewed upside >sp'2000 looks probable... although I realise a fair few will disagree with that!

a little more later...