Tuesday, 3 June 2014

Daily Index Cycle update

US indexes closed moderately mixed, sp +1pt @ 1924. There were new historic highs for the Trans/Dow/SP. As usual, the most notable weakness was in the R2K/Nasdaq. Near term outlook remains broadly bullish, at least into Wednesday.





There is little to add.

Even the R2K/Nasdaq remain comfortably above the danger zone. Unless bears can break <1080 in the near term - which seems VERY unlikely, then the broader trend remains bullish.

Closing update from Riley

a little more later...