Daily Index Cycle update

US equities closed moderately higher, sp +4pts @ 2060 (intra low 2052). The two leaders - Trans/R2K, settled higher by 0.2% and 0.7% respectively. After significant net weekly declines, near term outlook offers renewed weakness next week, first downside target is the 2039 low.. and then the rising 200dma.. currently around 2010.


sp'daily5

Dow

Summary

Little to add

Friday was a relatively subdued day... but one that doesn't offer a clear floor/turn. Certainly, another test of the 2039 low from March'11th looks due.. after some likely Monday morning gains in the sp'2070s.
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Closing update from Riley


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a little more later...