Daily Index Cycle update

US indexes closed somewhat mixed, with the sp -2pts @ 1845. The two leaders - Trans/R2K, settled -0.7% and u/c respectively. Near term outlook is for continued broad upside, somewhere into the 1880/1920 zone by the next FOMC of March'19.


sp'daily5

R2K

Trans

Summary

It was a day of minor chop. Certainly, the equity bears can't start proclaiming 'see..the top is in now'. I can only suggest anyone go look at one of the larger weekly cycle charts. The bigger up trend..continues.

Yes, the Dow and the Trans are a bit laggy, but overall..the broader market is still battling broadly higher.
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Closing update from Riley



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a little more later...