Daily Index Cycle update

US indexes saw a pretty strong morning reversal, and the daily closing candles bode for new historic highs in the coming days (at least for the Dow, SP, Trans). The sp'500 closed +3pts @ 1884. The two leaders - Trans/R2K, settled -0.3% and -0.2% respectively.


sp'daily5

Nasdaq

R2K

Summary

I will often note the importance of candle type, and today's closing candles were the pretty bullish 'spike-floor' type.

They bode for further upside...into the sp'1900s..later this week, probably to be 'inspired' by some Yellen chatter to the US Congress/Senate.
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Closing update from Riley



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a little more later...