Daily Index Cycle update

US equities closed moderately weak, sp -4pts @ 2056 (intra low 2045), having seen a sig' bounce to 2067. The two leaders - Trans/R2K, settled -0.6% and -0.1% respectively. With technical breaks on the daily cycles, there looks to be further weakness into early next week... to the sp'2020/10 zone... where the 200dma will be lurking.


sp'daily5

Dow

Trans

Summary

*the R2K, Nasdaq have yet to break their rising trends from last October.
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Suffice to say... some notable technical breaks today in the sp'500 and (arguably) Dow, following the Transports.

Underlying MACD (blue bar histogram) cycle has now turned negative on all indexes, and typically, we can expect a few more days of 'broad weakness'... before the next up wave can begin.
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Closing update from Riley



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a little more later...