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.

a little more later...