Daily Index Cycle update

US equities settled the week with some mixed chop, sp' +0.5pts @ 2039. The two leaders - Trans/R2K, both settled lower by -0.1%. Near term outlook continues to offer a retrace, but then.. that has been the case for the last two weeks.


sp'daily5

R2K

Trans

Summary

*it is notable that the R2K has broken the daily 10MA.. with the MACD (blue bar histogram) cycle set to turn negative at the Monday open.
--

All of the US indexes look tired in the near term, although were breaking new highs as recently as Thursday. At best, a retrace to sp'1980/50 zone.. before further upside into year end.
--

Closing update from Riley



--
a little more later...