Daily Index Cycle update

US equities saw a fifth consecutive day of weakness, sp -18pts (-0.9%) @ 1992. The two leaders - Trans/R2K, settled lower by -0.4% and -1.9% respectively. Near term outlook is for continued weakness, most likely to at least briefly test the 200dma of sp'1965.


sp'daily5

R2K

Summary

Suffice to say... a fifth day of declines. The only solace for the bulls is that the market didn't break under the Wednesday low of sp'1988. Yet, that does seem likely tomorrow.. or next Tuesday.

With the ECB set to formally announce t-bond buying next Thursday, the equity window for the bears has another 2 or 3 days left in it.
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a little more later...