Daily Index Cycle update

The main indexes all closed moderately higher, but certainly, the gains were nothing for the bulls to get excited about. The sp'500 settled at 1697. The market leaders - Trans/R2K, closed with stronger gains of 0.8% and 0.5% respectively.


Sp'daily5

R2K

Trans

Summary

So..the 3 day down cycle has been countered with one day of moderate gains.

Considering the bigger weekly cycle charts, I'm inclined to hold to a generally bearish outlook into mid-September, and I remain holding to the notion that sp'1709 was indeed the high of the recent up wave.

Despite the index gains, the underlying MACD (blue bar histogram) cycle again ticked lower, and we remain in a moderately bearish down cycle.
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*I am heavy short the indexes overnight, seeking an exit in the sp'1670s, with VIX 14/15

a little more later...