Thursday, 3 September 2015

Daily Index Cycle update

US equity indexes closed significantly higher, sp +35pts @ 1948. The two leaders - Trans/R2K, settled higher by 2.4% and 1.6% respectively. Near term outlook is for continued upside, with the sp'2000 threshold probable next week.




It would seem we have confirmation that the move from sp'1993 to 1903 was a retrace.. if a very powerful one.

All indexes look set to break above last weeks highs... whether by this Friday... or sometime next week.

Best guess... sp'500 to max out somewhere in the 2010/2050 zone by the next FOMC of Sept'17th.

*I hold long-AAPL overnight, with no interest to short the market until FOMC week.

a little more later...