Daily Index Cycle update

US indexes continued to climb (6th day of 8), sp +9pts @ 1981. The two leaders - Trans/R2K, settled higher by 0.1% and 0.3% respectively. Near term outlook offers the giant sp'2000 threshold, before some degree of minor down wave.


sp'daily5

Dow

Summary

Suffice to say, the slow (but consistent) low volume algo-bot melt to the upside... continues.

I expect new historic highs on the Dow/SP' in the near term... the laggard remains the R2K. It will be difficult to break the July high of 1213.

Perhaps more importantly, I am keeping an eye on the NYSE Comp', upside target remains the 11300s in September.
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Closing update from Riley



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a little more later...