Saturday, 8 August 2015

Daily Index Cycle update

US equities closed broadly weak, sp -5pts @ 2077. The two leaders - Trans/R2K, settled lower by -1.4% and -0.7% respectively. Near term outlook is for continued downside to Dow 17000, along with sp'2040s, and that should equate to VIX in the 16/17s. From there.. a bounce looks highly probable.




*a very notable 7th net daily decline in the Dow, the worse streak since the collapse wave of July/August 2011.

The Dow has closed lower for 12 of the last 14 trading days.

a little more later...