3pm update - weakness into the weekend

Most US equity indexes are set to close net lower for the third consecutive week. The two leaders - Trans/R2K, remain leading the way lower.. and are suggestive of another push down.. before some kind of multi-week up cycle can begin. Regardless of the close... it has not been a dull week!


sp'weekly1b

R2K, weekly

Summary

The smaller 5/15/60min equity cycles are highly suggestive of a rollover into the weekly close.

In any case... its been a pretty crazy day.. and week.
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Unless we crash in the closing hour.. I'll return at the close.. to wrap things up
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3.15pm.. Ohh.. so the market wants to do another short-stop run into the close.. sp'1938... VIX 21.60s

oh well.


3.20pm.. so.. with sp'1942.. that is the level from overnight Wed' futures.

A 49pt ramp from the morning low....2.4%.. based on.... NOTHING.


3.37pm... Well, sp'1945/46 is  50% retrace of the wave from 2020/1871....

Any sustained action >1950.. and we're going another 100pts higher.

Best guess is ... no... but I realise many would argue otherwise.