Daily Index Cycle update

The main indexes closed lower, with the sp -20pts @ 1782. The two leaders - Trans/R2K, both closed -1.6%. There looks to be very likely follow through to the downside early Thursday, before the market puts in a C wave floor. End year upside remains the sp'1830/50 zone.


sp'daily5

R2K

Trans

Summary

Today saw the first decent downside in some weeks..if not months - if you look at the hour to hour price action.

Best guess..downside early Thursday to sp'1774/72, by 11am, forming a C wave floor.

*there is sig' QE-pomo tomorrow, so equity bears will need to be...careful.
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a little more later...