Daily Index Cycle update

A broadly flat close for the market, on what was yet again beyond-abysmal volume. This market may as well be shut until after the US labor day holiday next Monday.


Dow, daily

Sp,daily5

Transports

Summary

The tranports was again particularly weak today - it sure is more volatile than just about anything else out there. Near term trend is most definately downward.

The broader sp/dow showed a touch of weakness into the close, but it remains all noise.

Downside targets for this Thur/Friday morning, are dow'12800, and sp'1380. I expect a bounce post-Bernanke this Friday and into next Tuesday (Sept'4).

A little more later.

Closing Brief

The market closed broadly flat, with volume at near record lows (even for August), the VIX closed almost 8% higher.


IWM'60min

Dow'60min

Sp'60min

Summary

Just a quick note, market closed broadly in line...everything is now set up for some level of fall...target is 1380.

More later.

3pm update - closing hour weakness

Seeking a broadly flat close on the main indexes. Note that the old leader, tranny is -0.5%, equivilent to around dow-65pts. VIX looks like it might close in the low 16s.


sp,daily5

Summary

Lets see if there are any sellers out there!

...more after the close!