Daily Index Cycle update

US indexes saw minor weak chop across the day, sp -3pts @ 1996. The two leaders - Trans/R2K, settled lower by -0.3% and -0.6% respectively. Near term outlook offers 1985/80 for the bears (at best), but with broader upside across September.


sp'daily5

NYSE Comp'

Summary

Another day closer to a 3 day holiday weekend, and the market is naturally very subdued.

Contrary to what some are saying, whether the sp'500 manages a weekly/monthly close in the 2000s is of no importance. The primary trend remains strongly bullish.

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a little more later...