Saturday, 6 February 2016

Daily Index Cycle update

US equity indexes closed significantly lower, sp -35pts at 1880 (intra low 1872). The two leaders - Trans/R2K, settled lower by -1.5% and -2.9% respectively. Near term outlook offers distinct threat of renewed upside, but on any broader outlook, the recent key low of 1812 looks set to be broken under by late March.





Price structure in the R2K is already suggestive of a bear flag break/confirm, but the trans is not as bearish.

Best guess: broadly.. another push higher still looks due next week.

a little more later...