Saturday, 27 February 2016

Climbing into mid March

US equities look set to continue broadly climbing for another few weeks, with the sp'500 seeing a net weekly gain of 30pts (1.6%) at 1948 (Friday intra high 1962). Near term outlook offers further upside to the giant psy' level of 2K.




It is notable that we're currently set for a net monthly gain, somewhere in the range of 0.5-1.5%.

No matter how strong next Monday might be, it should be clear, the sp'500 is set for the third consecutive monthly close under the 10MA (currently @ 2025)... and that is NOT bullish.

Goodnight from London

*the weekend post will be on the US weekly indexes