Daily Index Cycle update

US equity indexes closed moderately mixed, sp +0.3pts @ 1989 (intra range 2005/1969). The two leaders - Trans/R2K, settled lower by -0.1% and -0.8% respectively. Near term threatens Friday weakness, but still, the market looks set for another push higher into next Wednesday's FOMC. From there... another key lower high should be solidified.


sp'daily5

Dow

Summary

Suffice to add.. a pretty interesting day in market land, with a strong morning reversal from sp'2005 to 1869, and then an afternoon recovery to settle fractionally higher at 1989.

Regardless of any opening Friday weakness... the market still looks set to make another push higher into the FOMC.

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a little more later...