Daily Index Cycle update

US indexes saw a day of minor chop, sp -0.7pts @ 1924. The two leaders - Trans/R2K, settled lower by -0.8% and -0.2% respectively. Near term outlook is a touch uncertain, ahead of the ECB announcement this Thursday.


sp'daily5

Summary

The broader trend remains unquestionably to the upside - as better reflected on the weekly/monthly charts.

There is certainly a possibility of a retracement back to sp'1905/00 later this week, but regardless, I just can't see a break under the 50 day MA for some weeks.
--

Closing update from Riley



 --
a little more later...