Daily Index Cycle update

US equities closed somewhat weak, sp -0.7pts @ 2101 (intra low 2095) The two leaders - Trans/R2K, settled u/c  and -0.2% respectively. Near term outlook is bearish for Mon/Tuesday, best downside case remains the sp'2060s, with VIX 16/17s.


sp'daily5

Trans

Summary

*Transports continues to be the market laggard... seemingly headed for the 8100/8000 zone.
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Little to add.

The trading week concluded with a new cycle low of sp'2095, but the market did manage to drag itself above the sp'2100 threshold for the weekly close.

All things considered, market looks set for further downside next week.... the bigger weekly cycle will be offering the 2060s.

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a little more later...