Daily Index Cycle update

US equities closed moderately higher, sp +8pts @ 1878. The two leaders - Trans/R2K, settled higher by 0.4% and 0.3% respectively.  Near term outlook is offering the sp'1885/95 zone, with a brief foray into the low 1900s.


sp'daily5

Nasdaq Comp'

Dow

Summary

All things considered, the daily charts - esp' the Dow and SP'500, bode for much higher levels in May. Even the Nasdaq which saw a much deeper retrace, looks set to break upward before the weekend.

Bears had their chance, and all they could manage was sp'1897 to 1814..a mere 4.4% decline.
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Closing update from Riley



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a little more later...