Daily Index Cycle update

A moderately choppy end to the week for the main indexes. The main indexes closed largely flat, although the Rus'2000 showed further moderate weakness, whilst the transports again does its own thing, closing a little higher.


IWM

Nasdaq Comp

Dow

NYSE Comp

SP'daily5

Transports

Summary

Its been a long day and week, so I'll keep this one short.

Suffice to say, the bears can at least claim a moderate victory this week, although the net weekly decline was only 1.5% (21pts) on the sp'500. It is a small step, but at least the direction is downward.

As for next week, well, I'll post something on the weekly charts over the weekend.

Goodnight from London