Daily Index Cycle update

US equities closed with rather significant gains, sp +25pts @ 2065. The two leaders - Trans/R2K, settled higher by 1.2% and 1.7% respectively. Near term outlook offers a continued rally to 2075/80... but there is very significant risk of the market reversing from there.


sp'daily5

R2K

Summary

*powerful gains for the R2K/Trans... which were leading the way yesterday.
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Little to add.

Market looks set for further gains tomorrow.. but will likely get stuck around sp'2075/80. A break into the 2100s will be out of range if market gets even remotely annoyed with what Yellen says next Wednesday.
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Closing update from Riley


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a little more later...