Daily Index Cycle update

US indexes closed with important gains for the third consecutive day, sp +13pts @ 1885. The two leaders - Trans/R2K, settled higher by 0.9% and 1.3% respectively. Near term outlook is broadly bullish - not least with the sp' and Trans' making new historic highs.


sp'daily5

R2K

Trans

Summary

Equity bulls achieved a new high in the sp'500 and the Transports, and the other main indexes will very likely follow.

Underlying MACD (blue bar histogram) is due to go positive cycle tomorrow, and there is indeed high likelihood of much higher levels across April/early May.

The mainstream talk will now likely shift to 'when will the sp' hit 2000?, which is now a very valid question.
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a little more later...