Monday, 27 August 2012

Daily Index Cycle update

A broadly flat close for the market, on what was yet again beyond-abysmal volume. This market may as well be shut until after the US labor day holiday next Monday.

Dow, daily




The tranports was again particularly weak today - it sure is more volatile than just about anything else out there. Near term trend is most definately downward.

The broader sp/dow showed a touch of weakness into the close, but it remains all noise.

Downside targets for this Thur/Friday morning, are dow'12800, and sp'1380. I expect a bounce post-Bernanke this Friday and into next Tuesday (Sept'4).

A little more later.