Daily Index Cycle update

The main indexes closed moderately lower, with the sp -6pts @ 1685. The two leading indexes, Trans/R2K, fell by a more significant 1.1% and 0.8% respectively. Indeed, the R2K looks particularly bearish right now, having turned/rolled over at the upper channel.


sp'daily5

R2K

Trans

Summary

So...moderate declines for the headline indexes, but more interestingly, we have somewhat bearish turns apparent in the Transports..but especially so, in the Rus'2000.

Is this it for this up wave? Unquestionably, the Trans and R2K are the market leaders, and they are both now slipping lower.

My only concern is that this is merely a sub'4 of the wave from the sp'1560 low. If that is the case, then we are set to see one very final lurch higher...perhaps to the sp'1710/20s early next week.

Right now..that is indeed my best guess.
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*I am holding long-SLV overnight (gods help me)

a little more later...