Friday, 1 January 2016

Daily Index Cycle update

US equities closed the year on a pretty bearish note, sp -19pts @ 2043. The two leaders - Trans/R2K, settled lower by -0.4% and -1.2% respectively. The year end close for four of six US indexes was below the monthly 10MA, and that sure bodes in favour of the bears for early 2016.





Unquestionably.. the short 4 day week ended on a bearish note, with all indexes on the slide.

There is certainly opportunity for upside into mid January, but right now, the notion of new historic highs in any of the headline indexes (Dow, sp', Nasdaq) look out of range in the near term.

For the moment... the broader trend is turning rather bearish indeed, but more on that... in a later post.

End year update from Riley

At 11pm EST, my review on the predictions for 2015 that some of you contributed.