Daily Index Cycle update

US equities closed somewhat weak, sp -4pts @ 2076 (intra high 2089). The two leaders - Trans/R2K, settled +0.5% and -0.6% respectively. Equities remain seeing some considerable day to day swings... stuck within the sp'2089/39 zone.


sp'daily5

Trans

Summary

Little to add... it remains a mess.

Despite the Transports closing net higher, it was the third close under the 200dma... and that should be considered a problem for the bulls.

Overall though... it IS a mess.. and there won't be any clarity until a decisive close above 2088.. or under 2039.

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Closing update from Riley


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a little more later...