Daily Index Cycle update

The main indexes closed moderately lower, with the sp -2pts @ 1792. The two leaders - Trans/R2K, closed -0.4% and -0.2% respectively. Near term outlook is a little messy, but with broader upside into late Dec/early 2014.


sp'daily5

Dow

Nasdaq

Summary

The fourth consecutive daily decline for the sp'500, but really, the recent series of declines are VERY minor. We are a mere 20pts - barely 1.2% from last Friday's historic high.

Rather than see any significant downside, as usual, all the bears can manage are minor declines.

The market looks set for another rally into year end. Monthly charts continue to offer dow 16500 and sp'1840.
--
a little more later...