Daily Index Cycle update

US indexes saw a rather significant late afternoon reversal, with the sp' swinging from a new historic high of 1968 to 1948, and settling -12pts @ 1950. The two leaders - Trans/R2K, settled lower by -0.8% and -1.0% respectively. Further downside to 1940/35 appears likely.


sp'daily5

R2K

Trans

Summary

So..we have very clear bearish reversals on all the main indexes.

I can understand if some are going to get really bearish for the rest of this week, but I can't.

This kind of wave/reversal was expected...and we are VERY likely going to floor in the sp'1940/35 zone..whether tomorrow..or Thursday.
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Closing update from Riley



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a little more later...