Daily Index Cycle update

The main indexes all closed moderately higher, with the sp +11pts @ 1837.  The two leaders - Trans/R2K, settled up by 0.7% and 0.9% respectively. Near term outlook is for the sp' to close the week in the 1850s, and eventually battle into the 1860/80 zone before end month.


sp'daily5

Dow

Trans

Summary

Not much to add.

We have what I believe are bull flags on the daily charts, and there is clear upside of 2-3% for most indexes.

There is little reason why the market won't close this week in the sp'1850s, along with VIX 12/11s.
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a little more later...