Daily Index Cycle update

Equity indexes reversed most of the Monday declines, with the sp +19pts @ 1838. The two leaders - Trans/R2K, both settled higher by 1.3%. Near term outlook is for general upside, into the sp'1860/80 zone by end month.


sp'daily5

R2K

Trans

Summary

*Trans/R2K look especially strong in terms of the rebound today.
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Equity bears need to take a good long look at the above index charts. The broader up trend does indeed continue, and with the weekly/monthly charts offering 1860/80 this month...bears are again in real trouble of being ground down to dust.

Near term outlook is for the sp' to battle higher, into the 1860/80 zone by end month..when Yellen will take over from the Bernanke.
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a little more later...