Daily Index Cycle update

US indexes climbed for a second consecutive day, sp +4pts @ 1892. The two leaders - Trans/R2K, settled higher by 0.5% and 0.9% respectively. Near term outlook remains bullish, with the sp'1910/20s likely into early June.


sp'daily5

R2K

Trans

Summary

*most notable aspect of today, Transports breaking a new historic high of 7938.
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It would seem very likely that the Dow and Sp'500 will follow with further new highs in the coming days. As it is, I do not expect new highs for the R2K/Nasdaq this side of the summer.
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Closing update from Riley



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a little more later...