Daily Index Cycle update

The main indexes closed moderately lower, with the sp -1pt @ 1693. The two leaders - Trans/R2K, closed -0.4%. The US capital markets remain largely not concerned about the US Govt. shutdown with a VIX that remains relatively low in the 16s.


sp'daily5

R2K

Trans

Summary

Suffice to say, the reversal candle on the sp' daily chart is probably important to keep in mind.

We certainly opened lower , but the 50 day MA did hold..and the market appears to just be building a secure floor before the first real upside.

Obviously, that upside is likely to violently begin the moment the politicians on capitol hill appear to have reached an agreement.

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a little more later...