Daily index Cycle update

US equity indexes closed significantly lower, sp -24pts @ 1942 (intra low 1929). The two leaders - Trans/R2K, settled lower by -2.5% and -1.5% respectively. Near term outlook offers a test of the sp'1900 threshold.. which will likely not hold.


sp'daily5

Trans

Summary

Suffice to say.. a pretty bearish day.. with sig' declines for all the main indexes.

Regardless of however Wednesday might open... broader downside looks due.. at least to test the Aug' low of sp'1867... and almost equally viable.. the Oct'2014 low of 1820.

The Dow and Trans' notably broke their respective Oct'2014 lows in the recent August down wave. I have to believe the other indexes will follow into early Oct'

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a little more later..