Daily Index Cycle update

US equity indexes closed moderately mixed, sp -0.7pts @ 2099 (intra low 2083). The two leaders - Trans/R2K, both settled higher by 0.7%. Near term outlook remains for a retrace, at least to the 2060s, if not the 2020s, before resuming broadly upward into year end.


sp'daily5

Trans

Summary

A choppy day to end the week, but then, the market was clearly battling it out, after a much better than expect jobs report.

New historic highs in some indexes (sp'500, Dow, Nasdaq), look due before year end, but first.. a retrace from the recent high of sp'2116 still seems already underway.

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a little more later...