Daily Index Cycle update

US indexes closed higher for a sixth day, sp +7pts @ 1879. The two leaders - Trans/R2K, settled higher by 0.6% and 1.1% respectively, with the former breaking a new historic high of 7764. Near term outlook offers a break >sp'1897 before end month.


sp'daily5

R2K

Trans

Summary

There is little to add. There is no power on the downside, and with the Trans' breaking a new historic high, the rest of the other indexes will surely follow in the near term.

The next thing for the bulls to be concerned about is GDP Q1, and the FOMC of next Wednesday. Until then, the current up wave will likely continue.
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a little more later...