Daily Index Cycle update

US equity indexes closed with very strong gains, sp +28pts @ 1873 (intraday peak 1876). The two leaders - Trans/R2K, saw powerful gains of 2.2% and 2.7% respectively. Near term outlook remains bullish, with target upside of 1890/1910.


sp'daily5

R2K

Trans

Summary

New historic highs for the sp'500, R2K, Nasdaq Comp (well, post 2009, not 2000 tech bubble), and the NYSE comp'.

There seems little doubt that the Dow..and the Trans will break new highs within the next week or two.

Primary trend remains clearly to the upside, as especially supported on the bigger weekly/monthly cycles
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Closing update from MrTopStep



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a little more later...