Tuesday, 15 March 2016

Daily Index Cycle update

US equity indexes closed moderately mixed, sp -2pts @ 2019 (intra low 2012). The two leaders - Trans/R2K, settled u/c and -0.3% respectively. Near term outlook offers further upside to the gap zone of sp'2038/43, with Dow 17405/425. Sustained action >2050 and Dow 17500 looks extremely unlikely.




Suffice to add, a second consecutive close above the 200dma for the sp'500/Dow.

Certainly, it is something for the equity bulls to tout, but the bigger weekly/monthly cycles are still suggestive the past 5 weeks of upside are nothing more than a standard 'bear market rally'.

a little more later..