Daily Index Cycle update

US equity indexes closed moderately mixed, sp -0.1pts @ 1917. The two leaders - Trans/R2K, settled u/c and +0.5% respectively. Near term outlook offers renewed upside to the 1950/65 zone. A daily close in the 1970s will open up a test of the 200dma and the 10mma by mid March. From there... things get real.... real interesting.


sp'daily5b

Trans

Summary

Suffice to add... a day of moderate chop... but then it was OPEX.

Further upside looks due... the only issue is whether the market maxes out in the sp'1950/60s... or can manage to claw to around 2K by mid March.

In theory, the next down wave should at least reach sp'1750/25 zone.. where there are a number of key fib' levels, and other aspects of support.

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*the weekend post will appear at 11pm EST... on the US weekly indexes