Friday 17 October 2014

Daily Index Cycle update

US equities saw some pretty dynamic swings, rallying from a pre-market low of around sp'1822, to an afternoon peak of 1876, and settling u/c @ 1862. The two leaders - Trans/R2K, settled higher by 1.1% and 1.2% respectively.


sp'daily5b, count


Dow, daily


Summary

The Dow notably closed lower for the sixth consecutive day, I'm not sure how long its been since that kind of downside.
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Suffice to say, a day of swings, a strong rally into the afternoon, but late day 'moderate' weakness.

The two leaders - Trans/R2K, continue to suggest a key low in the broader market is increasingly close.

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a little more later....