Daily Index Cycle update

Equity indexes closed moderately mixed, with the sp -0.5pts @ 1819. The two leaders - Trans/R2K, settled higher by 0.1% and 0.3% respectively. There looks to be opportunity for a near term retracement down to the sp'1800/1780 zone, before new historic highs are broken in March.


sp'daily5

R2K

Trans

Summary

A day of moderate price chop, with the sp'500 breaking to 1826..only to slip to 1815...before a tiny claw back to essentially flat..at the close.

Considering the 89pt ramp (5.1%) from sp'1737, we're more than due at least a minor retracement of 1.5-2.0%. With no sig' QE until next Tuesday, bears have a very viable window of opportunity.
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Closing update from Mr TopStep



a little more later...