Daily Index Cycle update

US equity indexes closed mixed, with the sp'500 +1pt @ 1878 (intraday peak 1883). The two leaders - Trans/R2K, settled +0.4% and -0.1% respectively. Near term outlook remains bullish into the low sp'1900s.


sp'daily5

R2K

Trans

Summary

With the sp'500 and Transports breaking new historic highs this morning, there is nothing for the bears to be pleased about.

The Dow will surely also break a new high next week. My best guess remains that the Dow will fall a little short of breaking 17k, in the current multi-week up wave.
-
a little more later...