Tuesday, 12 April 2016

Daily Index Cycle update

US equity indexes closed moderately weak, sp -5pts @ 2041 (intra high 2062). The two leaders - Trans/R2K, settled lower by -0.5% and -0.3% respectively. Near term outlook offers the 2025/15 zone this Tues/Wednesday, before crawling upward into the Friday opex.


Nasdaq comp'


sp'500: a second spiky daily candle... bodes in favour of further downside, at least to the 2025/15 zone.. close to the 200dma (2014).

Nasdaq: an intra high of 4897.. and notably, unable to close above key 4900 threshold. The daily net decline of -0.4% is somewhat interesting. Next support: 4750/4700.

a little more later...