Daily Index Cycle update

US equities closed moderately higher, sp +8pts @ 2063 (intra high 2072). The two leaders - Trans/R2K, settled higher by 0.2% and 0.1% respectively. Near term outlook offers an overdue retrace, at least to the 2000/1990 zone, which would likely equate to VIX 18/19s.


sp'daily5

Nasdaq comp'

NYSE comp'

Summary

sp'500: an effective hit of the upper daily bollinger at 2072. The closing daily candle.. marginally spiky.. threatening near term downside.

Nasdaq: a clear black-fail doji, having tested, and unable to clear (at least on this first attempt) the important 4900 threshold.

NYSE: the master index managed its first close above the 200dma since last July, although the net daily gain of 0.5% is not exactly decisive.

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a little more later...