Wednesday, 16 December 2015

Daily Index Cycle update

US equities closed significantly higher, sp +21pts @ 2043 (intra high 2053). The two leaders - Trans/R2K, settled higher by 0.8% and 1.4% respectively. Near term outlook offers a very brief post-FOMC flash down to the 2020s.. before soaring upward. The sp'2100s look due in the near term, the core issue is whether 2134 can be broken




The second consecutive net daily gain for the sp'500, with all indexes making an attempt to break out of the short term downward trend.

Equity bulls should be seeking a daily close in the sp'2070s to give clarity that the market is headed for the 2100s before Christmas day.

a little more later...