Daily Index Cycle update

US equities closed with very powerful gains of 42pts (2.0%) @ 2091 (intra high 2093). The two leaders - Trans/R2K, settled higher by 0.9% and 1.1% respectively. Near term outlook is for the sp'2115/20 zone... if not a straight run to the 2150s by the FOMC of Dec 16th.


sp'daily5

Trans

Summary

*The Transports broke a new cycle low of 7831, but did close rather bullish, with a clear spike-floor. First target remains the 200dma in the 8300s.
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The sp'500 saw a very powerful net daily gain of 2%... making for a fractional net weekly gain... pretty incredible.

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a little more later...