Daily Index Cycle update

US equity indexes closed moderately lower, sp -3pts @ 1938 (intra range 1949/1932). The two leaders - Trans/R2K, settled lower by -0.4% and -0.3% respectively. Near term outlook is for renewed downside.. as the market is due to test the 1900 threshold.


sp'daily5

Trans

Summary

Little to add.

Trans remains utterly broken.. and the sp'500 is grinding lower.. if somewhat slowly.

A test of the Aug' lows looks a given, with the bigger weekly/monthly cycles suggestive of sp'1820 within two weeks.
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a little more later...