Wednesday, 23 July 2014

Daily Index Cycle update

US indexes closed higher, sp +9pts @ 1983. The two leaders - Trans/R2K, settled higher by 1.1% and 0.8% respectively. Most notable, new historic highs in the Trans/SP'500. Near term outlook is bullish into the sp'1990s.





Without question, the most notable aspect of today was another set of new highs, in the Transports and sp'500.

The past week was certainly a little shaky for the market, but with new highs being hit, things are once again clear. We're headed higher.

Closing update from Riley

a little more later...