2pm update - the two weak leaders

Whilst the broader market remains only moderately lower, there is notable sig' weakness in the two leaders - Trans/R2K, both on the daily and giant monthly cycle. A significant net monthly decline is somewhat suggestive of a problem in the months ahead.


R2K, monthly

Trans, monthly

Summary

*I thought a little side track into the bigger picture would be kinda interesting for this hour.
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A notable 4 months lower of the past 6 for the 'old leader'.

With the two leaders set to close April net lower (all other indexes are set for net gains of around 1%), there is a hint of a viable sig' down wave this summer.

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I continue to have eyes on FXE... as a long, however.. not at this price... nor time.

Looks like I'll have to wait until next Monday.. when we might see the 108s.. that would be an acceptable level.. at least to me!