US equities closed the week on a very bearish note, sp -22pts @ 2079. The two leaders - Trans/R2K, settled lower by -0.7% and -1.5% respectively. With some bearish engulfing weekly candles, near term outlook is increasingly bearish, with a viable test of the 200dma at 2065 next Monday.
*Trans remains the market laggard, and is well on the way to retracing all the way back to the Oct'2014 low of 7700.
A fourth consecutive net daily decline for the sp'500... with the week closing on a very bearish note. It would seem the next stop is a test of the 200dma.. which will be around 2065 next Monday.
Closing update from Riley
a little more later...