Daily Index Cycle update

US equities ended the week with moderate gains, sp +2pts @ 1878. The two leaders - Trans/R2K, settled higher by 0.2% and 0.9% respectively. Near term outlook remains moderately bullish, into the low sp'1900s within the next week or two.


sp'daily5

Nasdaq Comp'

R2K

Summary

The two battered indexes - Nasdaq/R2K, have battled hard to put in key cyclical floors. A bounce of at least 3-4%..maybe 5-6%, seems viable across the next few weeks.

The broader Dow/SP/Trans look set to break new historic highs next week, and again, I'll note, the Trans did break a new high this week, and that certainly is something for the equity bears to seriously ponder over.
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Closing update from Mr Topstep



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a little more later...