Daily Index Cycle update

US equities settled moderately mixed, but well below their morning highs, sp +2pts @ 1884 (intra range 1899/1871). The two leaders - Trans/R2K, settled +0.3% and -0.6% respectively. Near term outlook is for further downside to at least sp'1820.


sp'daily5

R2K

Trans

Summary

*the R2K continues to lead the way lower... first target is the Oct' 2014 low of 1040.. which would equate to sp'1820.
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Trans looks headed for the giant 7000 threshold.. .which seems possible this Thurs/Friday.

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a little more later...