Saturday 15 August 2015

Daily Index Cycle update

US equities ended the week on a moderately positive note, sp +8pts @ 2091. The two leaders - Trans/R2K, both settled higher by 0.6%. Near term outlook remains unchanged, with renewed weakness, ideally to the sp'2040s, with Dow 17000, and that should equate to VIX in the 17s.


sp'daily5



Dow


Summary

Little to add.

Despite a net daily gain to end the week, it remains a series of lower highs and lower lows since most indexes peaked in mid May.

Renewed downside looks due next week.
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Closing update from Riley



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a little more later...