Wednesday 27 August 2014

Daily Index Cycle update

US indexes settled a little higher, sp +2pts @ 2000 (new historic high 2005). The two leaders - Trans/R2K, settled -0.4%  and +0.8% respectively. Near term outlook offers the 2010s into end week/month.


sp'daily5


R2K


Trans


Summary

There is very little to add.. on what was just another moderately bullish day in market land.

The price action in the R2K bodes well for the overall market, with the first daily close over 1170 since early July. Breaking the 1213 high will be tough though, and I don't expect it next month.
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a little more later...