Daily Index Cycle update

The market saw a day of minor chop, with the sp -4pts @ 1826. The two leaders - Trans/R2K, settled -1.3% and -0.8% respectively. Near term outlook is for the market to resume the up trend, with a weekly close in the sp'1850s now viable.


sp'daily5

R2K

Trans

Summary

The third consecutive fall for the US indexes, but price action is very much still very strong. At best, the bears are able to manage declines of 0.25-0.75% in the main indexes, and around 1% in the more volatility Trans/R2K.

The broader up trend very much continues, and sp'1810/00 is now the first real support zone.
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a little more later...