Friday 18 December 2015

Daily Index Cycle update

US equities closed significantly lower, sp -31pts at 2041. The two leaders - Trans/R2K, settled lower by -2.0% and -1.2% respectively. Near term outlook offers moderate threat of the sp'2025/20 zone, before surging back into the 2100s by Christmas Eve.


sp'daily5



Trans



Summary

Most notable.. bearish engulfing candles on a number of indexes, as opening gains quickly failed to hold.. with increasing weakness.. especially into the close.

It would seem the Tuesday opening gap of sp'2025/21 will be filled early Friday.. before equity bulls can push for a sustained rally into year end.

--
a little more later...