Daily Index Cycle update

US indexes closed moderately higher, sp +3pts @ 1987. Most notable, new historic highs in the Trans/SP'500. The two leaders - Trans/R2K, both settled higher by around 0.2%. The sp'2000s look due next week.


sp'daily5

R2K

Trans

Summary

Once again, we saw another pair of new historic highs.

The broader upward trends remain intact, and there looks to be easy upside into the FOMC of next Wed' July30'th... which should equate to the sp'2000s.

*I will be seeking a weekly close for the R2K in the 1170s, which should confirm a new multi-week up wave is now underway.
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Closing update from Riley


 
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a little more later...