Saturday 11 October 2014

Daily Index Cycle update

US indexes ended the week on a negative note, sp -22pts @ 1906. The two leaders - Trans/R2K, settled -2.0% and -1.3% respectively. Near term outlook still offers a quick test of the August sp'1904 low.


sp'daily5


R2K


Trans


Summary

Suffice to say, new lows...  and there is now a huge technical unrecoverable mess for the bull maniacs to deal with.

A bounce is due to begin next week, likely from the 1905/1895 zone. More importantly, right now, the notion of new highs before year end..... no way.

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a little more later....