Thursday, 21 January 2016

Daily Index Cycle update

US equities closed very mixed, sp -22pts @ 1859 (intra range 1812/76). The two leaders - Trans/R2K, settled -0.5% and +0.4% respectively. With a rather powerful wave from 1812 to 1876, the market is threatening a short term floor, although 1812 makes little sense as a key floor.





sp'500: the Oct' 2014 low of 1820, decisively broken, but then a rather powerful wave to 1876 in the closing hour.

R2K, a hyper swing of 5% from 958 to 1008, settling @ 999.

Trans breaks a new cycle low of 6403, briefly turning positive in the closing hour, but settling -0.5% @ 6625. It is notable that the 200dma is at 8125.. and looks out of range for many months.

Closing update from Riley

a little more later...