Daily Index Cycle update

The main indexes closed the week with significant gains, sp +20pts @ 1805. The two leaders - Trans/R2K, settled higher by 0.6% and 0.8% respectively. Near term trend is bullish, and there is end year upside to Dow 16400/600, with sp'1840s.


sp'daily5

Dow

Trans

Summary

More than anything, the Dow is offering the clearest sign.

We have a text book back test.. a successful one, of old resistance, which is now confirmed support. Equity bears are going to struggle to break back under Dow 15800 for weeks..if not many months.

The broader trend remains to the upside, and frankly..bears look done for at least another 3-5 weeks.

a little more later