Daily Index Cycle update

US equities closed very weak, having broken a new cycle high of sp'1949, but settling -14pts @ 1927. The two leaders - Trans/R2K, settled significantly lower by -2.0% and -1.4% respectively. Near term outlook is for 1910/00 zone, before 1950/60 next week.


sp'daily5

Dow

Summary

Suffice to say... a new cycle high of sp'1949 - some 129pts higher across just 6 days... but now we're in some kind of minor retrace.

Market will likely hold the 1900 threshold, before renewed upside next week to 1950/60s.
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a little more later...