sp'daily5
R2K
Trans
Summary
The break on Thursday really has changed almost everything. Not only was the price action of Thursday - with some follow through on Friday, the most bearish since early February, but the bigger weekly/monthly cycles are also starting to turn somewhat ugly.
The Dow is within easy range of its 200dma, whilst the R2K is just 3% from breaking the critical 1080 threshold.
A 2-3 day bounce looks likely next week, and if the bulls can't push back into the 1970s....then we'll see another wave lower... likely <1900 by mid August.
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Closing update from Riley
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a little more later...