Daily Index Cycle update

US equities closed moderately mixed, sp +3pts @ 2022 (range 2004/28). The two leaders - Trans/R2K, settled +0.9% and -0.5% respectively. Near term outlook is for Wednesday chop.. before a jump to the upside... 'inspired' by ECB QE. The sp'2100s still look probable in the near term.


sp'daily5

R2K, daily

Trans

Summary

A day of swings... failed opening gains.... sp'2028... down to 2004... but then a somewhat typical latter day recovery.

Overall.. market is in chop mode.. ahead of the ECB.

*underlying MACD (blue bar histogram) is offering a snap higher this Thursday.
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Closing update from Riley.. (not from the floor of the CME)

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a little more later...