Market Analysis, Charts, Macro-Economics, and other nonsense
Tuesday, 28 July 2015
Daily Index Cycle update
US equity indexes closed broadly weak, sp
-12pts @ 2067. The two leaders - Trans/R2K, settled lower by -0.2% and
-0.9% respectively. Near term outlook is for further weakness, and
regardless of any Wed/Thursday bounce, the market looks set for Dow
17000, sp'2000, along with VIX in the low 20s.
Little to add.
A fifth day lower for most US indexes, and with some key technical breaks on the bigger weekly/monthly cycles, the US market looks increasingly vulnerable.