Tuesday, 1 December 2015

Daily Index Cycle update

US equity indexes closed moderately weak, sp -9pts @ 2080. The two leaders - Trans/R2K, settled lower by -1.4% and -0.4% respectively. Near term outlook remains broadly bullish, at least to the sp'2150/70 zone, which appears highly probable.





*the 'old leader' - Trans, continues to struggle, despite broadly weak energy/fuel prices.

The sp'500 managed to just hold the 2080s, although 2070s are clearly now easily viable (if briefly) early Tuesday.

Mr Market looks set to use the the ECB (Thursday) or the monthly jobs data (Friday) as the excuse for a challenge of the recent high of sp'2116.

Any break >2120 will open the door to the 2150/70 zone.. before year end.

a little more later...