Daily Index Cycle update

US indexes pushed higher into the close, sp +5pts @ 1883. The two leaders - Trans/R2K, settled higher by 0.7% and 0.5% respectively. Near term outlook is for the market to continue higher, into the 1895/1905 zone by the Friday close.


sp'daily5

Dow

Nasdaq

Summary

Suffice to say, the Monday spike low daily candle is arguably a very important one for the equity bears to keep in mind. Certainly, it is highly suggestive of a short term floor, and the fact we're already 33pts higher is supportive of it.
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Both the Dow/SP' look set to close the week at new historic highs.  Whether the R2K/Nasdaq will break new highs in May, that remains a key question.
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Closing update from Riley



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a little more later...