Daily Index Cycle update

US indexes closed the week on a fractionally down note, sp u/c @ 1955 (range 1964/41). The two leaders - Trans/R2K, settled u/c and -0.1% respectively. Near term outlook is for further downside on Monday, before resuming higher.. into the 1970/80s.


sp'daily5

R2K

Trans

Summary

So.. a bit of a messy day to end what was a bullish week.

The daily candles are of the bearish engulfing type - although with the sp/Trans closing essentially flat, its not an especially bearish close.

All things considered - not least the smaller 15/60min cycles, market looks set for the sp'1930s...before the 1970s.
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Closing update from Riley



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a little more later...