Thursday, 7 April 2016

Daily Index Cycle update

US equity indexes closed broadly higher, sp +21pts @ 2066. The two leaders - Trans/R2K, settled -0.2% and +1.2% respectively. Near term outlook still offers the 2020/15 zone, and that should equate to VIX 18s. More broadly, the market still looks to have another marginally lower high of 2075.




Rather significant gains across most (but certainly not all) indexes.

For now, the April 1st' highs are still holding.. but it sure is getting a little borderline.

Best guess: renewed downside to the sp'2020/15 zone... along with VIX 18s. I realise that after this afternoon, that is probable seen as overly bearish.

.. and clearly, 2020/15 will take at least the better part of two, if not three trading days to reach, considering ongoing price action.

a little more later...