Daily Index Cycle update

The main indexes closed somewhat mixed, and well above their morning lows. The broad daily trend remains to the upside, although we are very likely close to maxing out in this cycle. Primary target remains sp'1425, which seems viable late Wednesday/early Thursday.


IWM

Sp'daily5

Trans

Summary

The closing hour was again indicative of the underlying trend, which remains to the upside. With the more volatile indexes like the Transports and Rus'2000 closing moderately higher, it is a very strong sign that the Dow/Sp will see some further upside in the next few days.

I am certainly holding to my primary target of sp'1425, which is easily within reach.

A little more later.