Wednesday 26 November 2014

2pm update - R2K clawing higher

Whilst the broader market is seeing micro chop, there is a touch of notable strength in the second market leader - the R2K, +3pts @ 1189. A few daily closes in the 1190s will confirm that an attempt to break the double top of 1212/13 is due in December.


R2K, daily


Summary

Here is the bigger issue though...

If can accept Trans 10k... and then R2K >1212... then what does that imply for the broader market next year?
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I've already posted a provisional target zone for end 2015....but really.. what do YOU think?
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Notable weakness: RIG -8%, SDRL -21%.