Friday, 16 October 2015

Daily Index Cycle update

US equity indexes closed significantly higher, sp +29pts @ 2023. The two leaders - Trans/R2K, settled higher by 1.4% and 2.3% respectively. Near term outlook offers the 2030/40s, with the 2050/60s in FOMC week (Oct 26th>).





Suffice to say.. very sig' net daily gains for all indexes. All US indexes look set to test the key 200dma before end month.

If sustained price action >sp'2060, the equity bears can wave any hopes of renewed downside until late spring 2016.

a little more later...