Daily Index Cycle update

US indexes closed the month on a positive note, sp +14pts @ 1872. The two leaders - Trans/R2K, settled higher by a very significant 1.7% and 1.8% respectively. Near term outlook remains entirely dependent on whether the bulls can break >1883.


sp'daily5

R2K

Trans

Summary

So. a second day higher for sp'500, and the Thursday low of 1842 is now a clear 30pts lower. Although, in the grand scheme of things, that is barely 1.5%

Most notable today, the gains in the two leaders, with the Transports just 0.6% away from breaking a new historic high.

Despite the gains though, we do remain within the same range of the past four weeks. 

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a little more later...on some end-month issues.