Daily Index Cycle update

US equity indexes closed broadly weak, sp -13pts @ 2036. The two leaders - Trans/R2K, settled lower by -0.7% and -2.0% respectively. Considering the 3 day holiday weekend ahead, and the smaller hourly MACD cycle, there is significant threat of renewed upside into early next week.


sp'daily5

NYSE comp'

R2K

Summary

sp'500 - break of rising trend... a viable key top of 2056. Underlying MACD (blue bar histogram) cycle set to turn negative no later than next Mon/Tuesday.

NYSE comp' - stuck at the 200dma....highly representative of the main market, which still looks set for renewed broad downside into the summer.

R2K, maxed out from 1103.. just a trio of points above the key 1100 threshold.... with a very sig' daily decline of around -2.0%.

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a little more later...