Daily Index Cycle update

The main indexes closed somewhat mixed. The Dow managed a 20pt gain, sp -3pts, whilst the Nasdaq composite lost 21pts (0.6%). Broad near term trend remains to the upside. The only issue is whether sub'3 of 5 is complete.


sp'daily5

Summary

A long..and tiresome day.

Considering the price action and market mood, I'm inclined to believe sub'3 isn't even complete yet.

If that's the case, maybe we're looking at sub'3 completing next Tue/Wed...with the FOMC/GDP being a sub'4 down..and then the market maxing out in early August - as I was originally looking for?

Regardless, whatever the hell it is...the current trend remains UP.

That's all for today.

Goodnight from London