US equities ended the week with some gains, sp +23pts @ 1886 , but somewhat below the intra high of 1898. The two leaders - Trans/R2K, settled +1.5% and -0.3% respectively. Near term outlook continues to offer another wave down to 1815/00 zone.
sp'daily5b
Dow
Summary
*chart daily5b is a 'best guess', but any move much above 1900 next Monday, will negate the idea of a sub'5th.
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Suffice to say, the Dow has broken its six day downside run... but the damage has been done, especially on the bigger weekly/monthly cycles.
Near term outlook is somewhat uncertain. There is threat of another minor wave lower to 1815/00 zone, but regardless, a move to 1920/50 zone looks likely by early November. From there, we look set for another major wave lower... to the 1700s, if not the 1650s.
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a little more later...