Daily Index Cycle update

US equities closed broadly lower, but well above the mid afternoon lows (intra low sp'1810), settling -22pts @ 1829. The two leaders - Trans/R2K, settled lower by -1.4% and -1.0% respectively. Near term outlook offers yet another chance for a 4-7 day rally, back above the sp'1900 threshold.


sp'daily5

Nasdaq comp'

R2K

Summary

*I highlight the Nasdaq and the R2K, as they have been recently leading, below their respective Jan'20th lows, with the sp'500 following today.
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The sp'500 has a moderately secure short term floor of sp'1810... with high threat of a swing into the 1900s by the end of next week.

It should be clear though, sustained action >2K is completely out of range.

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a little more later..