US equities closed moderately weak, sp -8pts @ 1953 (intra low 1948).
The two leaders - Trans/R2K, both settled lower by around -0.4%. Near
term outlook is for subdued price action into Thursday, before a major
break... to the upside. The sp'2000s still look probable before the
bears have another opportunity of downside.
sp'daily5
Trans
Summary
Little to add.
Daily MACD line remains exceptionally low. Sustained equity downside does not look possible from current levels.
Best guess... the market to break into the sp'2000s.. before rolling over into end month.
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a little more later...
