Daily Index Cycle update

The main indexes all closed with moderate gains. Most notable, were historic highs for the Dow, SP'500, and the R2K. With the daily close >sp'1687, the bulls should be confident of further upside next week, and quite likely into early August.


sp'daily5

R2K

Trans

Summary

Another day for the bulls to claim victory.

Unquestionably, the near term trend remains strongly to the upside. The daily sp' chart is offering support around 1675/70.

Considering the current price momentum, I don't expect to see those levels for some days..if not a few weeks.

*the rally in the R2K is particularly incredible, and yes..its approaching its upper channel line.

a little more later..