Thursday, 25 February 2016

Daily Index Cycle update

US equities saw a very significant latter day recovery, from a morning low of sp'1891, settling +8pts @ 1929. The two leaders - Trans/R2K, settled -0.5% and +1.0% respectively. Near term outlook offers renewed upside to the 1950/60s... with threat of 2K by mid March.




Suffice to add, the daily candles are offering a powerful spike floor from sp'1891.

Near term outlook is bullish, with a daily close above the 50dma (1946) now viable as early as tomorrow.

Broadly upside into mid March looks probable... with a brief foray back above the psy' level of 2K.

a little more later...