Daily Index Cycle update

US indexes closed moderately higher, sp +8pts @ 1865. The two leaders - Trans/R2K, settled +0.5% and u/c respectively. Near term outlook is uncertain, until a break either >1883, or under 1834. VIX continues to reflect a market that has broadly no concerns in the near term.


sp'daily5

R2K

Trans

Summary

The most notable aspect about today, the Transports, which came pretty close to breaking a new historic high, but then it has been trying to do that for the last 12 days (if you start the count from the high of March'7 of 7627).
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Aside from that, the market remains in a rather tight trading range of around 3%

Bulls just need to push 1% higher to break new historic highs, whilst bears need to take out 1834, to have a small hope of 1800/1790 within a week or two.
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a little more later...