Daily Index Cycle update

US indexes saw minor price chop across the day, sp +0.9pts @ 1987 - but with a notable new historic high of 1991. The two leaders - Trans/R2K, settled u/c and -0.2% respectively. Near term outlook is bullish into next week.


sp'daily5

R2K

Trans

Summary

The broader trend remains very much to the upside.

Only the R2K is still lagging below the March high (1212), but the R2K could easily be trading in the 1200s within the next few weeks.

The Transports had a notable black-fail candle yesterday, and was today stuck at 8513. Equity bulls should be seeking to break that level next week.

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..a little more later...