Daily Index Cycle update

US indexes closed generally moderately lower, sp -8pts @ 1888. The two leaders - Trans/R2K, settled lower by -0.9% and -1.6% respectively. Near term outlook is for renewed upside into the sp'1910/20 zone by the end of next week.


sp'daily5

Dow, daily

Summary

So..the main indexes closed moderately lower, with the sp' lower by around -0.5%. Not exactly a dramatic move huh?

Yes, there was distinct - and significant, weakness in the R2K, but that is not exactly surprising, and the Nasdaq itself was more inline with the Dow/SP' today.

*I hold moderately long overnight, seeking an exit into the Friday close, preferably with R2K 1130s.
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Closing update from Riley



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a little more later...