Friday, 23 October 2015

Daily Index Cycle update

US equities closed significantly higher, sp +33pts @ 2052. The two leaders - Trans/R2K, settled higher by 1.5% and 0.8% respectively. Near term outlook is for continued upside into the next FOMC (Oct 28th)... and if the market likes what the Fed has to say... a straight run to the sp'2100s.



Nasdaq comp'


Most notable today, the Nasdaq comp' which was the first index to break above the 200dma (intra high 4926).

Broadly.. all other indexes look set to test their respective 200dmas... and break above.

a little more later...