Daily Index Cycle update

Equity indexes saw a moderate bounce, with the sp'500 settling +13pts @ 1755. The two leaders - Trans/R2K, settled higher by 1.2% and 0.8% respectively. The broader trend remains to the downside, with a target zone of 1710/1690.


sp'daily5

R2K

Trans

Summary

So..a bounce for the bull maniacs, but really, it was not significant, and does nothing to negate the recent major declines.

Broader trend remains unchanged, and a hit of the 200 day MA - currently 1708, looks likely within the next few days.
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Closing update from Mr TopStep



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a little more later...