Daily Index Cycle update

US equities closed the week relatively flat, sp +3pts @ 1923. Most notable, there were new historic highs for the Trans (8113), and sp'500 (1924). Near term outlook is bullish into the middle of next week.


sp'daily5

R2K

Trans

Summary

Little to add.

Unquestionably..with new historic highs for the Trans/SP - with Dow set to follow, the broader market is indeed back on the climb.

The Feb' low of sp'1814 is now a clear 100pts lower, and with VIX 10s likely next week, this remains a market of utter complacency. Such calm won't last forever though.

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a little more later...on consideration of the bigger picture