Daily Index Cycle update

US equities closed moderately mixed, sp +1pt @ 1988 (intra high 1993). The two leaders - Trans/R2K, settled higher by 0.5% and 0.8% respectively. Near term outlook is for a retrace to the 1945/30 zone, before renewed upside to 2050/70 zone, into the week of the next FOMC (Sept'17).


sp'daily5

Dow

Summary

Suffice to note... a truly wild week in the US equity market, with the sp' having seen a clear double floor of 1867.. then a hyper ramp to 1993. A retrace appears underway to the 1945/30 zone by next Wed'. From there, upside into mid Sept'.. to 2050/70.

Broader downside into Oct'... the low 1700s remain a viable prospect in the next down wave.
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a little more later...