Daily Index Cycle update

US equities ended the weekly on a pretty negative note, sp -17pts @ 2046. The two leaders - Trans/R2K, settled lower by -1.2% and -0.6% respectively. Near term outlook offers a break of the 2039 low, and that will open up the 2020/1990s next week.. before the next sig' bounce of 2-3%.


sp'daily

Dow

Trans

Summary

sp'500: the third consecutive net daily decline, but holding above last Friday's low of 2039. If the 2030s are lost, then 2000/1990s..'swiftly'.

Dow: a decisive weekly close under the 50dma, next support is around 17200. Sub 17K looks out of range in the current down wave.

Trans: a third consecutive significant net daily decline, holding well below the key 50/200 day MAs. Next support is around 7200/100s.

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a little more later...