Daily Index Cycle update

US equities closed significantly lower, sp -43pts @ 2035. The two leaders - Trans/R2K, both settled lower by -2.5%. Near term outlook offers a short term floor, with a probable bounce to the 2075/80 by next Tuesday... which should equate to VIX cooling to the 15/14s.


sp'daily5

Dow

Summary

The daily close under the 200dma of sp'2078 was very bearish, but perhaps.. the close under Dow 17k was extremely bearish.

Regardless of any bounce into early next week, much lower levels look due into end month, and across September.

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a little more later...