Daily Index Cycle update

The Dow/SP/Nasdaq remain stuck under the mid-Sept highs of sp'1474. Yet the Transports and Rus'2000 continue to power upward. It remains a very split market, but it seems likely that the leaders are indeed probably still 'leading'.


IWM

SP'daily5

Trans

Summary

Its almost as though we have two sets of indexes right now. The 3 laggards - the big three that the mainstream follow, and then the two leaders - The Transports..and the Rus'2000 small cap.

The breakouts on the latter two are indeed critical to respect, and all things considered, they are very likely indeed warning of further multi-month index gains.
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So long as we hold under sp'1474, my outlook for a brief retracement to the sp'1440/25 gap zone, is still a viable one.

A little more later