Daily Index Cycle update

US indexes closed with rather significant gains, sp +20pts @ 1978. The two leaders - Trans/R2K, settled higher by 1.3% and 1.6% respectively. Near term outlook is for the broader upward trend to resume, with sp'2000s viable before end month.


sp'daily5

R2K

Trans

Summary

So..the week ended on a pretty positive note, and the doomy gloomy mood from Thursday was completely reversed.

Indeed, most notable was seeing the sp'500 come within 0.3% of breaking a new historic high. The 1990/2000s look very viable in the near term.

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Closing update from Riley

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a little more later...