Friday, 15 April 2016

Daily Index Cycle update

US equities closed moderately mixed, sp +0.3pts @ 2082 (intra high 2087). The two leaders - Trans/R2K, settled +0.2% and -0.1% respectively. Near term outlook offers cooling to the 2065/61 gap zone. Any price action <2050 looks difficult, as the market is increasingly confident that 'normal service' has fully resumed.




sp'500: a new high of 2087.. the best level since Dec 7th

Dow: a new high of 17963, just 14pts shy of the rather critical Nov' high.

*As things stand, the 'failed head test' - as lead by Mr Carboni, that most of you are aware of, remains intact.... just.

a little more later...