Daily Index Cycle update

US equities closed significantly higher, sp +26pts @ 2019, but that still made for the third consecutive net weekly decline. The two leaders - Trans/R2K, settled higher by 1.2% and 1.9% respectively. Near term outlook offers decreasing chance of a hit of the 200dma of sp'1965 next week... before renewed upside.


sp'daily5

R2K

Trans

Summary

So... significant net daily gains to close the week.

Market still looks a little vulnerable to a further wave lower next Tue/Wed, to the 200dma of sp'1965... ahead of the ECB spooling up the printers.

Regardless of another minor wave lower... renewed upside after the ECB looks highly probable.

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a little more later...