Daily Index Cycle update

The US indexes saw a day of sideways minor price chop, with the sp -0.1pts @ 1873, having made a fractional new high of 1876.53. The two leaders - Trans/R2/K, settled +0.3% and -0.2% respectively. Near term outlook remains broadly bullish.


Sp'daily5

R2K

Trans

Summary

There is little to add, on what was a very quiet day of consolidation.

The only notable action was in the transports, which managed some moderate gains, and had an intraday peak in the low 7500s - pretty close to the historic high from late January.

a little more later...