Daily Index Cycle update

US equities saw some rather dynamic swings across the day, with the sp'500 settling +25pts @ 2020 (range 2021/1980). The two leaders - Trans/R2K, settled higher by 1.5% and 0.9% respectively. Near term outlook is increasingly bearish, with viable downside to sp'1920/00, along with VIX in the 30s.


sp'daily5

Dow

Summary

Suffice to say.... despite the Monday chop (although it was a rather wide range of 30pts)... the market still looks set for renewed downside.

Today the Dow lost (if briefly) the 200dma... the sp'500 -along with other indexes, look set to follow within the next few days.
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Closing update from Riley


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a little more later...