Daily Index Cycle update

US equities managed to hold rather significant net daily gains, sp +23pts @ 2025. The two leaders - Trans/R2K, settled higher by 0.7% and 1.3% respectively. Near term outlook offers 2045/55 by the weekend, with new historic highs before month end.


sp'daily5

R2K

Summary

Clearly, the daily MACD (blue bar histogram) cycle have another few days before we start seeing some bullish crosses.

R2K was a little laggy for most of the day, but caught up into the close. The 1220s are a fair ways higher, but 1250/75 zone looks a valid target in the next wave... into February.
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a little more later...