Daily Index Cycle update

US indexes started the week with significant gains, sp +16pts @ 1971. The two leaders - Trans/R2K, settled powerfully higher by 1.7% and 1.5% respectively. Near term outlook is for the sp'1980/90s..with the 2000s no later than early September.


sp'daily5

Nasdaq Comp'

Summary

Most notable aspect, the Nasdaq, which broke new post 2009 highs with a 1.0% net daily gain. The 4600/700s look viable into early September.

Dow looks set to follow into the 17200/300s. Indeed, only the R2K looks set to struggle to break new historic highs.
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Closing update from Riley



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a little more later...