Daily Index Cycle update

US indexes closed significantly lower, with the sp -21pts @ 1846. The two leaders - Trans/R2K, settled -1.4% and -1.2% respectively. With the break <1850, the door is now open to 1835/30, before a likely bounce into the next FOMC of next Wednesday.


sp'daily5

R2K

Trans

Summary

So...the first significant decline across all indexes since Feb'3.. when we floored at 1737.

The weekly/monthly charts are still broadly bullish, but another week or two of this sort of choppy/toppy price action in the sp'1830/80 zone, and market will be at very high risk of a multi-month decline.

The weakness in the two leaders is especially bearish for late March/April. Things are starting to get kinda interesting :)

a little more later...