Friday, 7 August 2015

Daily Index Cycle index

US equities closed broadly weak, sp -16pts @ 2083 (intra low 2075). The two leaders - Trans/R2K, settled lower by -0.8% and -1.3% respectively. Near term outlook is for a key break of the 200dma (2072), which should offer further downside to the 2050/40s.





*a notable sixth consecutive net daily decline for the Dow.

Little to add.

The Wed' rally... with the failed spike, was confirmed with today's downside. Lower levels look due in the immediate term.

a little more later...