Daily Index Cycle update

The main indexes saw a day of consolidation, with the sp -1pt @ 1809. The two leaders - Trans/R2K, closed unchanged and -0.7% respectively. Near term outlook is very bullish, with a weekly close in the sp'1820s looking very viable.


sp'daily5

R2K

Trans

Summary

The weakness in the R2K is kinda interesting, but really, its only minor, and with the Dow breaking a new historic high today, I don't place any importance on the R2K decline.

Broader trend remains strongly to the upside.

Year end target remains, sp'1830/50, with Dow 16300/500s
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a little more later...