Friday, 8 April 2016

Daily Index Cycle update

US equity indexes closed significantly lower, sp -24pts @ 2041. The two leaders - Trans/R2K, settled lower by -1.3% and -1.4% respectively. Near term outlook offers the 2020/10 zone, before a likely bounce back to 2040/50. More broadly, the April 1'st high of sp'2075 is increasingly looking like a secure mid term high.




Suffice to add, the Wednesday gains were fully negated, and that bodes in favour for further downside this Friday.

The 200dma of sp'2014 is a very valid target tomorrow, before yet another bounce.. which would likely be within the 2040/50s.

a little more later...