Daily Index Cycle update

US equity indexes closed significantly lower, sp -23pts @ 2081 (intra low 2072). The two leaders - Trans/R2K, settled lower by -0.7 and -1.6% respectively. Near term outlook is now very uncertain, not least with the China market set to see a major opening Monday decline of 5% or so.


sp'daily5

Dow

Summary

So.. significant net daily declines to conclude the week for all US indexes.

The sp'500 arguably some support in the sp'2070s... but until its back above the 50dma (2084), equity bulls can't be quite as confident as they have recently been.

Underlying MACD (blue bar histogram) cycle is set to turn negative at the Monday open, and is certainly suggestive of at least some weakness early next Monday.
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Closing update from Riley


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a little more later...