Tuesday, 4 August 2015

Daily Index Cycle update

US equity indexes closed broadly lower, sp -5pts @ 2098. The two leaders - Trans/R2K, settled +0.3% and -0.6% respectively. Near term outlook offers further downside, at least to the recent low of sp'2063. However, any daily closes under the (still rising) 200dma will offer stronger downside to the 2050/25 zone.




Suffice to add... a second day lower for most indexes, and the market looks set for a particularly bearish week.

Closing update from Riley for today (despite post title)

a little more later...