Daily Index Cycle update

US equities closed moderately mixed, sp +1pt @ 2037. The two leaders - Trans/R2K, settled -0.8% and +0.1% respectively. Near term outlook threatens a serious attempt to clear sp'2056, but it will likely fail. With three trading days left of March/Q1.. things are about to liven up.


sp'daily5

Nasdaq comp'

Summary

sp'500: the 8th consecutive daily close above the 200dma. Next resistance is the late Dec' high of 2081.. after that.. nothing of real significance until the May'2015 historic high of 2134.

Nasdaq: There is powerful resistance at the 4900 threshold. Arguably, any sustained price action >5K, and the equity bears can throw away any hope of broader equity downside for the rest of 2016.
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For the moment, the broader bearish outlook remains intact.. but its clearly borderline.

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a little more later...