Daily Index Cycle update

US equity indexes closed significantly lower, sp -20pts @ 2078 (intra low 2068). The two leaders - Trans/R2K, settled lower by -0.3% and -1.3% respectively. Near term outlook offers the 2020s, along with VIX in the low 20s. Sustained action <sp'2K looks out of range.


sp'daily5

Trans

Summary

Little to add.

All US equity indexes appear to have very clear short term peaks.. with the sp' maxing out at 2116.

Best guess... sp'2020s.. before resuming higher into December.
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a little more later...