Tuesday 15 July 2014

Daily Index Cycle update

US indexes closed moderately higher, sp +9pts @ 1977. The two leaders - Trans/R2K, settled higher by 0.7% and 0.5% respectively. Near term outlook is bullish into the sp'1990/2000s.


sp'daily5


Dow'daily


Trans


Summary

Today saw notable new historic highs for the Dow and Transports, and the sp'500 looks set to follow in the near term.

Daily charts are currently restrictive to the sp'1985/90 zone... the 2000s look out of range until next week. Regardless.. the primary trend remains to the upside.
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Closing update from Riley



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a little more later...