Friday 26 February 2016

Daily index Cycle update

US equity indexes closed significantly higher, sp +21pts @ 1951 (intra low 1925). The two leaders - Trans/R2K, settled higher by 1.1% and 0.9% respectively. Near term outlook offers a weekly close in the 1965/75 zone, and that will continue a short-stop cascade all the way to the psy' level of sp'2K.


sp'daily5



Dow



Summary

Suffice to add, a decisive close above the 50dma for the sp'500 and Dow'30, and both indexes look set to climb a further 3% or so into mid March.

From there.. things start to get real interesting again.

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a little more later...