Friday 27 February 2015

3pm update - a powerfully bullish month

Regardless of the exact close, it has been a powerfully bullish month for the US.. and most world equity indexes. The sp' is set for a net February gain of around 5.5%... totally negating the moderate weakness of January. Broader outlook remains strongly bullish... with the sp'2200/300s viable into the early summer.


sp'monthly



sp'60min


Summary

*the daily cycles are highly suggestive of weakness in the first half of next week.
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Soft support remains 2103/00 zone... a break under that offers 2065 next Tue/Wed.
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Notable weakness, CHK -2.9%