Daily Index Cycle update

US equities ended the day on a positive note, sp +3pts @ 1962. The two leaders - Trans/R2K, settled higher by 0.2% and 0.4% respectively. Near term outlook remains moderately bullish, into the sp'1970s, but there remains reasonable chance of a sub'4 wave...of 2-3%.


sp'daily5

R2K

Trans

Summary

Well, it was yet another week for the equity bulls, and it is pretty notable to see the sp'500 leading the way higher. The giant psychological level of 2000 is now just 2% away, although I'm still suspicious that it won't that will not be hit this summer...or even this year.

Regardless, I'm still expecting marginally higher levels by mid July.
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Closing update from Riley



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a little more later.