Daily Index Cycle update

US equities opened moderately higher to an early peak of sp'1950, but then increasingly spiralled lower, settling -48pts @ 1890 (intra low @ 1886). The two leaders - Trans/R2K, settled lower by -3.7% and -3.3% respectively. With the loss of the 1900 threshold, the door is open to the 1750/25 zone.


sp'daily5

R2K

Trans

Summary

Most notable today... a reversal from opening moderate gains... with a powerful swing of 3.2% for the sp'500.
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sp'500 - the Aug' low of 1867 is an easy target. Any failure to hold that... and 1750/25 (where there are multiple aspects of support).. before end month.

R2K - now in the 1010/00 support zone. Any price action <1K would bode for continued and increasingly powerful declines.. equiv' to sp'1700s.

Trans - a new multi-year low of 6675...seemingly headed for 5500/5000 in the months ahead.

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a little more later.... on a new movie!