Friday, 11 December 2015

Daily Index Cycle update

US equities closed moderately higher, sp +4pts at 2052 (intra low 2045). The two leaders - Trans/R2K, settled higher by 0.6% and 0.3% respectively. Near term outlook is for increasing price chop ahead of the Dec'16th FOMC. From there, first target remains 2115/20, and then the 2150s.. before year end.


sp'daily5



Trans

Summary

Little to add.

A bit of a choppy day... with the sp' seemingly stuck between the 2070s and 30s. Sustained action >2080 looks unlikely until the FOMC is out of way.

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a little more later...