Daily Index Cycle update

US equities closed significantly weak, sp -25pts @ 2089. The two leaders - Trans/R2K, settled lower by -1.6% and -1.4% respectively. With the loss of the 50dma, next soft support is the recent low of 2077. Core support is the 200dma of 2027/28.. and then the giant 2K threshold.


sp'daily5

R2K

Trans

Summary

*the R2K has notably taken out the recent low, and looks headed for the 1200 threshold. A hit of the 200dma will not be easy though.
--

Little to add.. broader price action remains very choppy.. but we do have the two leaders - Trans/R2K, leading the way lower.. with the Nasdaq following.

-
a little more later...