US equities closing moderately weak, after a very wild Fed day, sp -5pts @ 1990 (intra high 2020). The two leaders - Trans/R2K, settled higher by 0.4% and 0.5% respectively. Near term outlook is for renewed upside, at least to test the 2020 high.. but with the 2040s almost as viable.. more likely next Mon-Wed.
*Trans has entered the target zone 'blue box' of the 8300s.. with a clear spike. I would guess the Trans will make another attempt for the 8300s.. whether tomorrow.. or early next week.
To be clear though, I do NOT expect sustained action >8400 in the near/mid term.
As for the sp'500, the daily candle is offering something of spiky top, but 2020 doesn't make much sense as a multi-week top.
Indeed, a test of the 50dma in the 2040s remains viable... but with a close of 1990... the 2040s look viable no earlier than next Monday.
a little more later...