Daily Index Cycle update

US equity indexes ended the week on a moderately positive note, sp +9pts @ 2033. The two leaders - Trans/R2K, settled -1.6% and u/c respectively. Near term outlook is for further upside to the sp'2040/60 zone... by the next FOMC (Oct' 28th).


sp'daily5

R2K

Trans

Summary

All US indexes look set for a test of the rather critical 200dma, before end month.

Best guess... 2050/60 by the FOMC of Oct'16.. and then a retrace to 1950. Right now, I'm inclined to believe the market will push higher into year end on the usual 'low rates and threat of QE4' mantra.

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a little more later...