Friday, 18 July 2014

Daily Index Cycle update

US indexes closed significantly lower, sp -23pts @ 1958 (intra low 1955). The two leaders - Trans/R2K, settled -1.4% and -1.5% respectively. The VIX reflected a moderately spooked market, +32% @ 14.54.





So... some rather significant declines for the US market, unquestionably a result of the Malaysian commercial plane loss, and the continued conflict in Israel

The R2K remains especially weak, but the rest of the indexes are still holding within very strong up trends.

All things considered, I'm still guessing the broader market will resume the upward trend, with sp'2000s before end month.

Closing update from Riley


a little more later....