Daily Index Cycle update

The main indexes broke to new highs, with the sp +10pts @ 1754, having earlier spiked to 1759. Especially notable was the NYSE Comp' which broke into the 10,000s for the first time since Oct'2007. Near term trend remains very much to the upside.


sp'daily5

Nasdaq' comp

NYSE' comp

Trans

Summary

There really isn't much to add. The trend is clearly very bullish, as also supported by the bigger weekly/monthly cycles.

The sp'1800s look viable in November. In my view, I don't think sub'1700s are likely in the remainder of this year. I realise that is a pretty bold call.

a little more later..