Daily Index Cycle update

A dull day in market land, where volume was close to zero, and the algo-bots were able to melt the market higher a few times. The transports climbed 1%, but the gains were not confirmed by the Rus'2000 - which normally matches the trans. The small cap R2K has now been stuck for 8 trading days, a break lower would be significant.


IWM, daily

sp'daily5

Trans

Summary

Most notable today, the Rus'2000 (see IWM chart) remained within a very significant flat top, now 8 days in duration. A close <81 later this week would be a major warning.
--

The transports broke out today, and looks like it'll make a hit on 5200 tomorrow..but then I'm guessing, it'll once again max out.

The SP'500 failed to break the spike high of 1423 from last Monday, although it got within 1pt.

My best guess - as noted on the sp' chart, is that we'll see one moderate wave lower this week..perhaps hitting 1375 (briefly) before a final wave higher into Christmas week - which of course will have even lower trading volume than we saw today.

A little more later