Daily Index Cycle update

US equities indexes closed broadly lower, sp -20pts @ 2045. The two leaders - Trans/R2K, settled lower by -0.6% and -1.1% respectively. Near term outlook offers the 2020/15 zone - where the 200dma is lurking. Sustained price action <sp'2K and >VIX 20 looks out of range in the near term.


sp'daily5

Nasdaq comp'

Summary

Suffice to add... two consecutive down days for all indexes.

Clearly though, we remain very close to recent highs.

A retrace to at least sp'2020/15 - with VIX 18s, looks probable in the near term, but considering overall market sentiment/mood, sustained action <sp'2K, with VIX >20 looks out of range.

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a little more later...