Daily Index Cycle update

US equities closed somewhat mixed, sp +10pts @ 1878. The two leaders - Trans/R2K, settled +0.6% and +0.1% respectively. Near term outlook remains broadly bullish, with new historic highs likely for the Dow/SP/Trans, although clearly, the R2K/Nasdaq are lagging well behind.


sp'daily5

Dow

R2K

Summary

Certainly, we continue to see a strong disparity between two sets of indexes. The Dow/SP/Trans are very close to breaking new highs, whilst the R2K/Nasdaq are very weak.

Taken collectively though, the broader market is still somewhat bullish, and considering the past few days of price action, new index highs look likely..at least for the leading trio.
-

a little more later...