Daily Index Cycle update

US equities closed significantly lower, sp -29pts @ 2045. The two leaders - Trans/R2K, settled lower by -1.6% and -2.0% respectively. Near term outlook continues to offer a natural retrace to the sp'2020s, along with VIX briefly in the low 20s.


sp'daily5

R2K

Summary

*the second market leader - R2K, saw a very decisive break of rising trend. Next support is a touch lower in the 1150/40 zone. After that.. 1100.
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The sp' saw an opening break under the 200dma (2064)... and was broadly weak across the day. The daily close in the 2040s - with VIX 18s, is in line with the target of the 2020s by early next week.

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a little more later...