Friday, 31 July 2015

Daily Index Cycle update

US equities closed moderately mixed, sp +0.1pts @ 2108. The two leaders - Trans/R2K, settled u/c and +0.2% respectively. Near term outlook is offering renewed side, but the equity bears really need some sustained price action under sp'2090 to offer clarity that the Wed' high of 2110 was just another marginally lower high.




Suffice to say.. broadly, it was a day of moderate chop for the US indexes.

Based on the bigger weekly/monthly cycles, the US market looks increasingly vulnerable into the early autumn.

Closing update from Riley

a little more later...