Daily Index Cycle update

US equities closed significantly lower, sp -18pts @ 2095 (intra low 2093). The two leaders - Trans/R2K, settled lower by -0.9% and -1.0% respectively. Near term outlook is for further weakness to the low sp'2080s, a break into the 2070s will be very difficult. Renewed strength looks due next week.


sp'daily5

R2K

Trans

Summary

Little to add.

An interesting day, market battled hard to hold the double low of sp'2099... but with that failure, saw further weakness to 2093.

Regardless of how we open Friday... the market should at least see the low 2080s.. if briefly.
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Closing update from Riley



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a little more later...