US equity indexes closed significantly lower, sp -24pts @ 2041. The two
leaders - Trans/R2K, settled lower by -1.3% and -1.4% respectively. Near
term outlook offers the 2020/10 zone, before a likely bounce back to
2040/50. More broadly, the April 1'st high of sp'2075 is increasingly
looking like a secure mid term high.
sp'daily5
Dow
Summary
Suffice to add, the Wednesday gains were fully negated, and that bodes in favour for further downside this Friday.
The 200dma of sp'2014 is a very valid target tomorrow, before yet another bounce.. which would likely be within the 2040/50s.
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a little more later...
