Daily Index Cycle update

US equities closed higher for a third consecutive day, sp +8pts @ 1949. The two leaders - Trans/R2K, settled higher by 0.9% and 1.0% respectively. Near term outlook remains bullish, with minor opportunity for a retrace.


sp'daily5

R2K

Trans

Summary

Suffice to say, primary trend remains to the upside, but yes...we should be getting stuck kinda soon - not least if you consider the Trans/R2K charts.

Regardless, I have little interest in playing the short side in the immediate term, perhaps at the next FOMC of June'18.
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Closing update from Riley



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a little more later...